Islamabad: Pakistan’s National Accountability Bureau (NAB) has filed a reference in an accountability court against Bahria Town owner Malik Riaz, his son, former Sindh Chief Minister Qaim Ali Shah, and 30 others over the illegal transfer of land, causing losses worth over PKR 700 billion to the national exchequer.
According to NAB's reference, Malik Riaz and other accused individuals illegally occupied land for the Bahria Town Karachi project, leading to massive financial losses to the state. The accountability court has accepted the reference for hearing and issued notices to the accused.
The case also names Sindh’s former Local Government and Information Minister, Sharjeel Inam Memon, and several government officials, accusing them of illegally facilitating the land transfer for Bahria Town Karachi.
A Supreme Court report on the matter revealed that Bahria Town constructed on nearly 20,000 acres instead of the approved 17,000 acres. In 2023, the Supreme Court ordered Bahria Town to pay a fine of PKR 460 billion by November, with annual installments of PKR 166.25 billion. However, reports indicate that Bahria Town has only deposited PKR 24.26 billion so far.
Investigations into the illegal land acquisition for Bahria Town Karachi began in late 2015. In December 2023, NAB issued a public warning against investing in Bahria Town’s Dubai project, citing ongoing fraud investigations against Malik Riaz and his associates. NAB also stated that investing in his Dubai project could be classified as money laundering and confirmed that Pakistan’s government is in talks with UAE authorities to extradite Malik Riaz.
Additionally, Malik Riaz has been declared a fugitive in the £190 million Al-Qadir Trust corruption case. On January 17, an Islamabad accountability court sentenced former Prime Minister Imran Khan to 14 years in prison and his wife, Bushra Bibi, to seven years in the same case.
Reacting to NAB’s latest reference, Malik Riaz took to social media platform X (formerly Twitter) on January 21, stating: "No matter how much oppression is done, I will not testify or be used against anyone."
NAB, however, maintains that solid evidence exists against Malik Riaz regarding illegal land acquisitions in Karachi, Rawalpindi, Peshawar, and Jamshoro. The accountability court has ordered the seizure of his properties as part of the ongoing investigations.
