National Accountability Bureau (NAB) Chairman Lt Gen (retd) Nazir Ahmed announced on Wednesday that comprehensive real estate reforms will be introduced within the next two months, aiming to revamp regulatory frameworks. He stated that these reforms will be submitted to the federal cabinet for approval. A key feature of the proposed changes is the elimination of the existing file system, which will be discontinued once the reforms are implemented.
Under the new regulations, full accountability will be placed on real estate developers, ensuring greater responsibility in the sector. Lt Gen (retd) Ahmed also addressed ongoing cases involving members of parliament, noting that while investigations continue, NAB has ceased issuing press releases on such matters.
He further mentioned that several cases have been transferred to the Federal Investigation Agency (FIA) and anti-corruption departments. Emphasizing fairness, the NAB chief stressed that suspects should be treated with the same respect as investigators. Reflecting on the bureau’s evolution, he remarked that the current NAB does not endorse the practices of its past.
In a significant development, Lt Gen (retd) Ahmed criticized the International Monetary Fund’s (IMF) recent diagnostic report on Pakistan, dismissing it as “completely baseless.” He argued that the IMF is unlikely to ever give any country a “clean chit.” The IMF’s Governance and Corruption Diagnostic Assessment (GCDA) issued last year had highlighted ongoing corruption and institutional weaknesses as obstacles to Pakistan’s economic progress, despite stabilization efforts under the Extended Fund Facility (EFF).
Meanwhile, the NAB chairman questioned the credibility of Transparency International, challenging its funding sources and the methodology behind its surveys. He pointed out the improbability of conducting a nationwide survey with only 800 participants.
Highlighting NAB’s recent achievements, Lt Gen (retd) Ahmed stated that the bureau’s recoveries over the past three months have been unprecedented on a global scale. He clarified that all recovered funds are deposited into the federal consolidated fund, with no portion retained by NAB itself.
