Latest news with #NABLahore
Business Recorder
30-06-2025
- Business
- Business Recorder
Mega corruption scandal: NAB Lahore recovers Rs2bn
LAHORE: Under the supervision of Director General (DG) NAB Lahore, Ghulam Safdar Shah, the NAB Lahore investigation team has successfully concluded a major recovery of Rs 2 billion in ongoing probe pertaining to a mega corruption scandal involving officers and officials of the Public Health Engineering Department (PHED), Sheikhupura. The DG NAB Lahore formally handed over first installment of the recovered amount to Additional Secretary Finance, Punjab Khalid Mehmood in NAB office, Lahore. According to the details, NAB Lahore launched Inquiry proceedings in September 2024 pertaining to the issuance of bogus cheques worth Rs 5 billion (approx.) by the Officers and staff of the Public Health Engineering and District Accounts Office, Sheikhupura. During the inquiry proceedings, some of the accused persons confessed to their crimes and filed Plea Bargain (PB) requests of Rs2 billion, which were duly approved by the Accountability Court, Lahore. Following court approval, the Bureau succeeded to ensure recovery within a remarkably short period and the initial tranche of the recovered amount has been submitted into the national treasury. On the occasion, DG NAB Lahore commended the exceptional performance of the investigation team, noting that the recovery of looted public funds in such a short time reflects team's commitment and competence. He further stated that investigations are actively underway against other accused persons involved in alleged embezzlement of public funds. Highlighting Chairman NAB's vision, DG Ghulam Safdar Shah emphasized that providing immediate relief to common citizens is NAB's top priority, however, all possible measures are being taken towards this end. He added that in order to recover and distribute the looted amounts to the rightful victims, the process of auctioning-off seized properties of the accused persons has been initiated. In this regard, a public auction of valuable confiscated properties was held at Deputy Commissioner Office, Lahore. However, the auction of seized assets will continue as per given schedule in other districts, as well. Copyright Business Recorder, 2025
Business Recorder
16-06-2025
- Business
- Business Recorder
Streamlining housing societies' affairs
EDITORIAL: Illegal housing schemes have become a persistent scam due to lax regulatory oversight. They typically are developed by politically influential individuals or those facilitated by corrupt officials in the government departments concerned. People invest their life savings in properties that are either not registered or exist only on paper. This has gone on for far too long with the relevant authorities turning a blind eye to the activity. Aspiring homeowners jointly have lost billions of rupees to fraudulent developers purchasing plots in some of the better known housing societies only to find them declared illegal. Just last March, Director General of NAB Lahore distributed cheques worth Rs 1.16 billion among 11,000 victims of one such society. The proliferation of illegal housing schemes is a matter of serious concern requiring urgent action. At a recent briefing Punjab Chief Minister Maryam Nawaz was informed that the total number of housing societies in Punjab stood at 7,905, covering an area of about 2 million kanal — mostly comprising encroachments on the greenbelts surrounding cities at the expense of environment. Out of these only 2,687 are approved and almost double that number, i.e., 5,118, are illegal or under process across Punjab. In the provincial capital, the Lahore Development Authority (LDA) is responsible for as many as 707 schemes, 427 of them have been given the green light while 206 fall in the illegal category — probably due to pending litigation — while 74 others are in the approval process. But private housing societies remain a problem. In many cases, their proprietors continue to build without necessary approval by greasing the palms of officials or using political connections. The result is mushroom growth of private housing schemes, especially on the fringes of the city, contributing to an unplanned urban sprawl. At the briefing session the CM said the housing schemes that have been built should be regularised as soon as possible so that people could get a relief. She also mentioned setting up of a 'housing society management system' to regularise the sector's affairs. The key, however, is not only a new management mechanism but also ensuring that developers comply with relevant rules and regulations, and the buyers are well informed. An important step in that direction is the CM's decision to introduce transparency through digitalisation of the housing schemes. If and when the plan is implemented, housing societies' approval, management, and transfer will be put online. And as announced, NOC fee will also be paid online after uploading the required documents. This should help control illegalities and also defrauding of unsuspecting buyers of non-existent plots in non-existent housing societies. Copyright Business Recorder, 2025
Business Recorder
02-06-2025
- Business
- Business Recorder
DG NAB Lahore listens to public complaints
LAHORE: The Director General (DG) NAB Lahore, Muhammad Ahtram Dar, convened a monthly open hearing session in NAB Lahore which was participated by hundreds of victims affected by Ponzi (investment) schemes and illegal housing societies. The forum witnessed aggrieved complainants of Future Vision scam, Al-Rehman Garden Phase-4, Omega Housing Society, New Lahore City, Khayaban-e-Amin Housing Society, Formanities Housing Society, Elite Town Housing Society, and Grand Avenue Housing Society. DG NAB Lahore attentively listened to all public grievances and issued prompt directives for their resolution. Responding to the complainants of Future Vision scandal, DG NAB ordered an immediate direct inquiry and instructed the initiation of proceedings to place the prime accused on Exit Control List (ECL) along with publication of advertisements in national dailies. Regarding the complaints against Al-Rehman Garden (Phase-4) management, the DG NAB allotted one month deadline to investigation team for bringing conclusion of the case and to submit a comprehensive report. Copyright Business Recorder, 2025
Business Recorder
15-05-2025
- Business
- Business Recorder
Housing scam victims: NAB Lahore disburses Rs1.34bn
LAHORE: National Accountability Bureau (NAB) Lahore, in a significant development, has successfully recovered Rs1.34 billion in Formanities Housing Society scandal and promptly initiated commencement of the same among 1,446 victims of the said scam. Marking this milestone, Director General (DG) NAB Lahore, Muhammad Ahtram Dar told that, keeping in view the special directives of the Chairman NAB to ensure completion of cheque distribution before Eid-ul-Adha, the Lahore Bureau has been decided to remain operational over the weekends (Saturday and Sunday) to continue delivering services to the victims. The initiative is designed to maximize relief delivery within the shortest possible time. DG NAB also announced the withdrawal of the requirement to bring stamp papers for cheque collection, a move aimed at facilitating the process for the victims. He further emphasised that providing rapid and prioritised relief to the general public remains a core directive of the Chairman NAB. He also noted that NAB Lahore has previously succeeded in disbursing compensation to thousands of victims within a remarkably short period. Reaffirming the Bureau's commitment, he further stated that redressing the grievances of housing sector victims, remains their foremost priority. However, DG NAB Lahore also instructed all victims of the Formanities Housing Scam to ensure for bringing their original documentation for receiving cheques to facilitate a smooth and efficient process. Copyright Business Recorder, 2025
Business Recorder
04-05-2025
- Business
- Business Recorder
DG NAB tightens noose around illegal housing schemes
LAHORE: The National Accountability Bureau (NAB), Lahore, under the leadership of Director General (DG) NAB Lahore, Muhammad Ahtram Dar, convened its monthly Open Hearing at NAB Lahore Bureau, today. A large number of affectees of various illegal housing Societies and fraudulent Ponzi schemes participated in the session and presented their grievances directly to the DG NAB. Victims of several major housing scandals, including the Prime Zone Scandal, Al-Rehman Garden Phase 4, Khayaban-e-Amin Housing Society, and Palm Vista Housing Scheme, were present in significant numbers. Additionally, complainants related to Grand Avenue Housing, Professional Cooperative Housing, New Lahore City, Omega Housing, and Bin Alam Housing Scandals also brought forward their grievances during the hearing. DG NAB Lahore, Muhammad Ahtram Dar, attentively listened to the concerns of all complainants and reassured them of NAB's commitment to ensuring justice and accountability. He issued clear deadlines to the relevant investigation teams for making significant progress in all cases and emphasized the importance of delivering timely relief to the public in line with the directives of the Chairman NAB. In his remarks, DG NAB Lahore highlighted that the Bureau is fully committed to safeguarding the rights of victims and ensuring restitution of their losses through lawful means. He reiterated that the instructions of the NAB Chairman are clear to provide immediate and effective relief to the public. Addressing the victims of the Prime Zone Scandal, DG NAB Lahore shared that a corruption Reference has already been filed against the accused in the Accountability Court. However, actions are underway to repatriate the main accused back to Pakistan through Interpol. Five other suspects have been arrested and included in the Reference. In the Al-Rehman Garden Phase-4 case, DG NAB directed the investigation team to resolve the registration issues of all 77 victims within two weeks deadline and submit a detailed report, accordingly. For the Khayaban-e-Amin Housing Society case, it was revealed that plots have already been allotted to 550 out of the 700 complainants. DG NAB Lahore instructed the concerned team to resolve the remaining complaints by May 10, 2025. Regarding the Omega Housing Society, the management was directed to refund the victims as per the NAB-approved refund policy, he said. The investigation team was also instructed to ensure strict compliance with the implementation of this policy. The attendees expressed their satisfaction and appreciation for the initiative taken by NAB Lahore, particularly acknowledging the swift actions and timely intervention by DG NAB Lahore. They voiced optimism that their issues will be resolved efficiently in the coming weeks. Copyright Business Recorder, 2025
