Islamabad: Government is going to take stern action against plots file related frauds and Prime Minister (PM) has issued orders for formation of high level committee in this regard.

According to a private T V channel report government has constituted a high profile committee to review legal status of sale and purchase of property files, villas and apartments.

The committee has been constituted in the wake of growing apprehensions regarding protection of investors , fraud, tax evasion. This committee is designed for ;promoting the transparency in real estate sector.

According to official notification law minster will preside over the committee while chairman FBR, senior members of board from all the provinces, NAB officer of grade 21 or above, chief commissioner Islamabad capital territory and representative of Association of Builders and Developers will be included in the committee.

FBR will provide secretarial assistance to the committee.

Responsibility has been assigned to the committee to review practical procedure and legal status of file system in real estate besides analyzing impact of this business on government revenue at federal and provincial level.

The matters related t rights of file holders and purchasers particularly with reference to fraud from the side of developers, issuance of fake or dual files and repeated sale of one and same file will be scrutinized.

Under TORS the committee will make recommendations for amendment in the respective rules so that the sale and purchase of property files could be brought under a clear and transparent legal framework.

This step is aimed at ensuring correct collection of taxes and provision of legal protection to investors.

Committee will be empowered to review other matters linked to its mandate.

Committee has been directed to present its report within one month to government

According to private T V channel this committee has been constituted following unveiling of a big housing scandal .

It was told therein the private housing schemes of Islamabad and Rawalpindi allegedly sold out more than 90000 plots without land and collected hundreds of billion rupees.