New Metro City affectees urge NAB for pending investments refund

2026-02-09 - 23:46

Hundreds of affectees of the New Metro City Gujar Khan Housing Society will appear before the National Accountability Bureau (NAB) Open Court on Thursday, February 12, 2026 seeking immediate refunds of their investments and strict regulatory action against the housing project for alleged fraud, misrepresentation and violations of the approved regulatory framework. In a collective appeal submitted to Lt Gen (R) Nazir Ahmed, Chairman NAB, and Mr. Waqar Ahmed Chauhan, Director General NAB, the affectees have urged the accountability watchdog to take up their long-pending refund applications and ensure protection of the general public from further financial losses. The applicants contend that they have suffered sustained financial harm due to what they describe as deliberate circumvention of laws governing private housing societies. The applicants have acknowledged NAB’s earlier intervention during a refund cheque distribution ceremony held in September 2025, when refunds against earlier applications were processed. They recalled that on the occasion, the Chairman NAB had assured investors that once the earlier batch of applications was completed, the remaining and subsequent cases would also be taken up. The present application, they said, has been filed in reliance on that assurance. According to the applicants, their refund applications were collectively submitted in 2025, but despite the lapse of considerable time, the refund process in their cases has yet to begin. They described the delay as deeply distressing, particularly for small investors who had invested their life savings in the project with the hope of securing a home or a stable return. The appeal further refers to officially verified information available on the Rawalpindi Development Authority (RDA) website, stating that New Metro City Gujar Khan holds an approved Layout Plan (LOP) for only 2,500 kanals, while no No Objection Certificate (NOC) has been approved to date. Despite this, the society allegedly continued marketing and selling plots beyond its approved limits.