Summary NAB Chairman Nazir Ahmed claims Rs15 trillion recovery within three years.
LAHORE (Dunya News) – Chairman of the National Accountability Bureau (NAB), Lieutenant General (retd) Nazir Ahmed, announced tougher measures against fraudsters on Monday, saying that individuals accused of deceiving the public would now have their photographs published in newspaper advertisements.
Addressing a ceremony in Lahore, the NAB chairman said the accountability watchdog believes in practical measures rather than symbolic agreements and stressed that fraudsters would face increased public exposure and legal action.
He said the business community had not been given the status and recognition it deserved despite its contribution to the economy. According to him, around 20 cases related to chambers and business forums were brought before NAB, out of which 19 had been resolved.
Speaking about reforms in the real estate sector, Nazir Ahmed said NAB had developed a comprehensive strategy aimed at improving transparency and reducing fraud. He announced that future property transactions would involve only three stakeholders and claimed that cash-based property dealings would be eliminated.
He further stated that the existing system of property files would gradually lose relevance within the next four to five months, while each plot would receive a barcode-based identification number to reduce fraudulent practices.
“All approvals related to real estate will be available under one roof,” he said, adding that a NAB official at director level would also be included in the regulatory framework overseeing the sector.
The NAB chairman alleged that significant areas of Lahore’s Ring Road project involved government land that was transferred to private individuals before being reacquired. He also claimed that Punjab could generate an economy worth $18 billion.
Addressing fraud in the property sector, Nazir Ahmed said individuals involved in public deception would face stronger accountability measures, including public identification through newspaper advertisements.
He also made major claims regarding financial recoveries, stating that NAB had recovered Rs15 trillion during the last three years.
“From 1999 to 2023, recoveries stood at Rs880 billion, but during the last three years we increased that figure to Rs15 trillion,” he said.
Nazir Ahmed further criticized what he described as the “real estate mafia,” saying those involved in fraudulent activities deserved strict punishment and would eventually face legal consequences.
The remarks come amid increasing debate over reforms in Pakistan’s property sector and broader accountability mechanisms aimed at improving transparency and investor confidence.
