Pakistan’s National Accountability Bureau (NAB) Chairman Lt Gen (retd) Nazir Ahmed has announced major real estate reforms that will be introduced within the next two months. A key part of these changes is the complete end of the old “file system” used in property dealings.
The file system has been common in Pakistan’s real estate sector for many years. Buyers often purchase “files” that represent future plots in housing societies. This practice has led to many problems, including fraud, speculation, delayed projects, and disputes between buyers and developers. Many people lose money when projects fail or developers oversell the same plots.
Under the new reforms, full responsibility will shift to real estate developers. They will have to ensure transparency, complete development on time, and follow strict rules. The changes aim to bring more trust and order to the property market by improving regulation and reducing corruption risks.
NAB Chairman Nazir Ahmed made these remarks during an informal media briefing on Wednesday. He said the proposed reforms will be presented to the federal cabinet soon for approval. Once approved and implemented, the physical file system will be abolished.
This move is part of broader efforts to clean up the real estate sector. Similar steps have already been taken in some provinces, like Punjab, to move towards proper plot-based ownership and better documentation.
During the briefing, the NAB chief also defended the bureau’s recent performance. He highlighted good recoveries in corruption cases and ongoing investigations against parliamentarians. He criticised an IMF report and raised questions about the credibility of Transparency International.
If approved, these reforms could bring positive changes for honest buyers and genuine investors by making property transactions safer and more transparent.
