In a significant development, the National Accountability Bureau (NAB) has successfully recovered 350 acres of prime state land in Karachi's Clifton area, valued at Rs423.5 billion. This recovery follows a thorough investigation into illegal allotments that involved senior officials from the Land Utilization Department, the Karachi Metropolitan Corporation, and the Karachi Development Authority. NAB's inquiry revealed that the land was allotted at nominal rates, violating legal requirements and causing substantial financial losses to the national exchequer. "Timely intervention prevented the land from being sold or further encumbered, thereby averting potential financial loss," NAB stated, emphasizing its commitment to accountability and the responsible use of public resources (Profit Pakistan, February 27, 2026).
BUSINESS
Nab Recovers 350 Acres Of Clifton Land In Karachi
100% POSITIVE
NAB recovers 350 acres of prime Karachi land worth Rs423.5 billion, exposing illegal allotments by officials, and retrieves 43.11 acres from encroachers, reinforcing its anti-corruption efforts.
Detailed Analysis
SOURCES
3 outlets · 3 articles