Karachi: The Association of Builders and Developers (ABAD) and the Central Depository Company (CDC) have inked an agreement to computerise land record data via a Land Repository System, a news source reported. This will be the first-ever system in Pakistan to integrate Electronic Registration of Land and Land Titles.
The agreement was signed on Thursday (Sep 12) at ABAD house. ABAD Vice Chairman Abdul Kareem Adhia and CDC CEO Badiuddin Akber signed the agreement in the presence of ABAD Chairman Muhammad Hassan Bakshi and CDC Chairman Moin M Fudda. The signing ceremony was attended by notable officials from these organisations.
CDC Chairman Fudda said that digitisation of land records will help bring an end to corruption. This will also help the national economy grow, he added. He further mentioned that every third person in Sindh has faced fraudulent situations while conducting a property transaction.
Sharing his views, ABAD Chairman Bakshi said that 98% of developers associated with ABAD operate using legitimate business practices. ABAD is dedicated to introduce legal and bona fide construction practices in the country, he added.
Chairman Bakhshi revealed that Sindh Chief Minister Syed Murad Ali Shah has also promised to extend full support for the legislation of this system.