ISLAMABAD: Federal Cabinet has approved to the National Accountability Bureau (NAB) Ordinance, 2019, which will now be sent to President Arif Alvi for his nod. The ordinance was given approval through circulation.
By issuing NAB Ordinance 2019, Government has tried to fulfill its commitment with Business community to refrain from any action against traders.
The Law Ministry had forwarded a summary of the NAB Ordinance to Prime Minister Imran Khan so that it could be discussed at the next cabinet meeting.After the ordinance passes, sources said, NAB will no longer be allowed to take action against government employees.
Moreover, the proposed ordinance also states that the property of government employees cannot be frozen without a court order. Furthermore, 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, according to the amendment ordinance, 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.
Read more: NAB will stay away from you, PM assures business community
