NAB law introduced to facilitate business community: PM Imran

ISLAMABAD: Prime Minister Imran Khan has said the opposition parties are criticizing the NAB Ordinance without understanding and analyzing its contents. He added the hue and cry over the matter is unjustified.

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Addressing civil servants in Islamabad on Thursday, the PM said the new NAB Ordinance aims to facilitate the business community and promote trade activity in Pakistan. “It was a difficult task to carry out amendments in NAB Ordinance.”

Imran said the country is passing through a crucial stage as the country is debt-ridden. He said record number of loans were taken after 2008 and the country’s revenue from taxes is used to pay interest on loan amount.

He said the government is making efforts to strengthen the economy and attract investment.

The prime minister said, “It is essential to improve the governance system for better economic results.”

He said all stakeholders should deal matters with mutual consultation to promote democracy in the country.

Earlier, the cabinet passed NAB Amendment Bill. As per the law, NAB will no longer be allowed to take action against government employees.

NAB will not seize property of government officials without the orders of the court.

Moreover, if the accountability watchdog cannot complete an investigation against a suspect within three months, the accused will be entitled to bail.

In addition, NAB will now only be able to proceed in corruption cases of Rs500 million and more.

Moreover, NAB’s jurisdiction over matters relating to tax, stock exchange and IPOs has been curtailed. The Federal Bureau of Investigation, Securities and Exchange Commission of Pakistan and building control authorities will be the sole authorities tasked to act on all such matters.

In addition, for land evaluation purposes, NAB will seek guidance from the Federal Board of Revenue or the District Collector.

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