‘NAB has distributed Rs462m to housing fraud affectees’

LAHORE: Chairman NAB, Lt. Gen Nazir Ahmed Butt (Retd), distributed 1, 619 pay orders worth approximately Rs462 million among affectees of various housing and investment fraud cases during a ceremony held at NAB Lahore. The recovered amounts pertained to cases including Omega Residencia, Eden Housing, Abuzar Housing Scheme, Formanites Housing Scheme, Model Business Trade Centre, and other ongoing investigations. The recoveries were made under the supervision of Director General NAB Lahore, Mirza Faran Baig, to ensure timely restitution to the victims. In the Omega Residencia case, more than Rs145 million was distributed among 500 affectees through 1, 308 pay orders as part of the first phase of payments. In the Eden Housing case, Rs39. 74 million was disbursed through 150 pay orders. NAB Lahore has already facilitated the transfer of approximately Rs685. 36 million to 5, 571 claimants through online banking channels, while payments to the remaining verified claimants are being processed. A total of Rs1. 4 billion has been disbursed among 11, 076 affectees in the Eden Housing case. In the Suzuki Sialkot Motors case, Rs186. 19 million was distributed among affectees through 136 pay orders, while payments amounting to Rs67. 5 million were also made to affectees of the Abuzar Housing Scheme. Furthermore, an amount of Rs2. 2 million recovered in the State vs. Abrar Hussain Jaffery case was handed over to DS Postal Service, Mianwali. During his address, Chairman NAB stated that the bureau remains fully committed to providing relief to victims of financial fraud, recovering public assets and strengthening the accountability process. He further informed that reforms are being introduced in the real estate sector and advised citizens to verify the NOC, approved layout plan and legal status of land before investing in any housing society or real estate project to avoid falling victim to fraud. Director General NAB Lahore emphasised that ensuring the transparent, efficient, and accountable distribution of recovered amounts to rightful claimants remains NAB’s foremost priority. He reaffirmed the bureau’s commitment to secure the timely return of recovered funds and ensure justice for all affectees. According to NAB Lahore, the bureau will continue pursuing the recovery of looted public assets, strengthening the accountability framework and providing maximum relief to members of the public affected by financial fraud. Meanwhile; NAB Chairman Lieutenant General (Retd) Nazir Ahmed Butt, visited the Lahore Chamber of Commerce & Industry (LCCI), where he inaugurated the NAB Executive Facilitation Office and witnessed the signing of a Memorandum of Understanding (MoU) between NAB and LCCI aimed at enhancing cooperation with the business community. Addressing the gathering, Chairman NAB highlighted major reforms being introduced in Pakistan’s real estate sector to ensure transparency, investor protection and ease of doing business. He stated that non-transparent practices, fraudulent schemes and irregular property transactions would be curbed through a comprehensive regulatory framework. He announced that future property transactions would increasingly be conducted through banking channels, while housing projects would be required to maintain transparent records and comply with approved land inventories. He further shared that a one-window mechanism is being developed to facilitate approvals from relevant regulatory authorities, reducing delays and improving efficiency for developers and investors. Chairman NAB reiterated that the business community is the driving force of Pakistan’s economy and assured participants that NAB remains committed to a fair, transparent and business-friendly accountability process. He noted that NAB has successfully resolved the overwhelming majority of complaints received through chambers of commerce and continues to prioritise timely relief for affected citizens. Director General NAB Lahore, Mirza Faran Baig, highlighted NAB Lahore’s efforts to facilitate the business community and promote awareness regarding accountability laws and legal safeguards. He emphasised that constructive engagement between NAB and stakeholders is essential for improving transparency, investor confidence and economic growth. LCCI President Faheem-ur-Rehman Saigol welcomed the Chairman NAB and appreciated NAB’s initiatives aimed at promoting transparency and strengthening confidence between public institutions and the private sector. During the visit, the Chairman NAB also planted a commemorative tree at the LCCI premises and reaffirmed NAB’s commitment to expanding cooperation with the business community to promote transparency, good governance and sustainable economic development. Copyright Business Recorder, 2026

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