Islamabad:The National Accountability Bureau (NAB) has recommended to make it mandatory on the housing societies to open ‘Escrow’ bank accounts to ensure timely completion of development work for early hand over possession of plots to the allottees.
This was stated by Director General NAB Waqar Chohan while speaking at a ceremony which was held here to hand over possession of 200 plots to the allottees of Sector I-15. DG NAB said the NAB has also recommended opening of Escrow bank accounts for the housing societies, adding that development funds received in these accounts could only spent on development of the concerned housing scheme.
CDA Chairman Muhammad Ali Randhawa, CDA board members and other officials were also present. CDA spokesman said the authority has started giving possession of 8600 out of 10,200 residential plots to the allottees.
The Sector I-15 was launched over 20 years back when the project also included residential flats. However, the applicants for flats were withdrawn. Speaking on the occasion, the CDA Chairman said the authority has already expedited development activity in C-14 and other sectors.
Chohan said that allottees are being issued allotment letters after carrying out proper scrutiny. He added that the CDA and NAB with their close cooperation are ensuring transparency in the housing sector, adding the allotment letters would also contain bar code.
