Sindh Government Reviews Measures to Regulate Real Estate Sector

KARACHI: Sindh Local Government Minister Saeed Ghani chaired a meeting on Monday to review measures for regulating the real estate sector and curbing money laundering through property transactions.

The meeting was held in response to a request from the National Anti-Money Laundering and Counter Financing of Terrorism Authority, urging provinces to submit recommendations to the federal government for eliminating cash transactions and preventing illicit financial activities in the real estate sector.

Attendees included senior officials from the Sindh Board of Revenue, home department, and industry representatives, including Association of Builders and Developers Chairman Muhammad Hassan Bakhshi and Real Estate Brokers’ Association representative Muhammad Rehman.

Discussions focused on a proposed code of ethics for real estate regulation, promoting formal banking channels for transactions, and amending the Registration Act. It was agreed that finalized proposals would be submitted to the federal government, with a follow-up meeting scheduled for March 24 to finalize recommendations.