▫️Prime minister forms high level committee amid concerns over fraud and regulatory gaps

▫️Focus on investor protection, land record transparency and tax system reform

[ReNews Pakistan]

The prime minister of Pakistan has ordered a comprehensive review of the legal status of buying and selling property files across the country, following growing concern over fraud, legal ambiguity and the lack of regulatory oversight in the real estate market.

The decision comes in the wake of a report published in a national newspaper, which highlighted the widespread trading of property files in major cities and pointed to serious questions regarding their legal validity, registration mechanisms and investor protection. The report noted that such transactions are not directly linked to official land records or ownership systems, raising concerns about transparency and legal safeguards.

In response, a high level committee has been established to examine the current framework governing the issuance, transfer and market use of property files. The committee will assess whether these transactions are adequately covered under existing laws or whether a separate legal framework is required to regulate them effectively. Relevant legal provisions, regulatory guidelines and administrative procedures will all be reviewed.

The committee will also study the impact of property file transactions on land record systems, registration processes and tax administration. The aim is to determine whether the current arrangements provide sufficient protection to investors and ensure proper financial and administrative compliance. Any legal or procedural gaps identified during the review will be addressed through policy recommendations.

Comprising experts in legal and regulatory affairs, the committee is expected to submit a detailed report outlining existing shortcomings, potential risks and proposed reforms. The findings will be presented to the prime minister, who will decide on further legislative or administrative action.

Officials say the initiative is intended to enhance transparency, restore investor confidence and improve the effectiveness of land administration and tax systems. If implemented, the proposed reforms could mark a significant step towards formalising property file transactions and strengthening governance in Pakistan’s real estate sector.