PM Shehbaz orders formation of high-level committee to regulate trade of property files

A high-level committee has been established by PM Shehbaz Sharif, to review the legal and regulatory framework governing the buying and selling of property files. This step was taken amid concerns over fraud, tax evasion and the protection of investors. 

The committee will be chaired by the Federal Minister for law and justice and will also include the chairman of FBR, senior members of the PBR, a senior NAB representative, the Chief Commissioner of Islamabad and a representative from the Association of Builders and Developers. 

The panel will examine the trading of property files that lack clear legal backing, and assess how these transactions impact federal and provincial government revenues. It will also inspect the rights of file holders and buyers. Cases involving alleged developer fraud will be looked into closely.

The committee is also set to make amendments to relevant laws to bring file trading under a formal legal framework, to ensure proper tax collection and offer legal protection to citizens and investors. 

The decision has come after a major housing scam in Islamabad and Rawalpindi, where private schemes reportedly sold more than 90,000 plots and files far exceeding approved land or layout plans, leaving many investors at risk of financial loss. 

The committee has been ordered to submit its report within one month.