In Lahore, the Chairman of the National Accountability Bureau (NAB) has made a significant announcement regarding the implementation of a new policy aimed at regulating housing schemes.
In a ceremony in Lahore, the Chairman of NAB, in his address, stated that 7 out of 10 people in housing schemes fall victim to fraud. To protect the citizens from housing scheme fraud, new policies are being introduced. Until now, transactions in housing schemes involved a two-way transaction between builders and buyers, with regulators overseeing transactions between builders and buyers in housing schemes.
The Chairman of NAB announced that the new policy for housing schemes will include all stakeholders. Now, transactions between builders and buyers will not be bilateral but trilateral. From the very beginning, regulators will be involved in transactions between builders and buyers. All transactions will be conducted through banking channels, and cash payments will not be allowed.
