Malik Riaz Urges ‘Dialogue and Dignified Solution’ as Bahria Town Faces Legal Turmoil

Islamabad — Property tycoon Malik Riaz on Tuesday appealed for “serious dialogue and a dignified solution” amid mounting legal troubles surrounding Bahria Town, warning that the company’s operations across Pakistan are on the brink of collapse.

His call comes as the Islamabad High Court (IHC) reserved its verdict on petitions challenging the proposed auction of Bahria Town properties. These assets were attached in connection with a plea bargain agreement in the £190 million case, part of ongoing National Accountability Bureau (NAB) proceedings.

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Background to the Dispute

NAB alleges that Malik Riaz and his son, Ali Riaz, failed to pay the agreed amount under a plea bargain in the UK’s £190 million settlement. The bureau subsequently sought details of multiple properties for auction under Section 33E of the NAB Ordinance, 1999.

The UK’s National Crime Agency (NCA) had agreed to the £190m settlement with Riaz’s family in 2019. Earlier that same year, Pakistan’s Supreme Court had accepted Riaz’s offer to pay Rs460 billion to settle a case involving the illegal acquisition of thousands of acres in Karachi’s Malir district.

Although Riaz claimed the NCA funds would go toward this fine, the Supreme Court later noted that only Rs60.72bn had been paid — of which Bahria Town contributed Rs24.26bn.

Riaz’s Public Appeal

In a post on X (formerly Twitter), Riaz said:

“I would like to make a final appeal from the bottom of my heart that we be given a chance to return to serious dialogue, and a dignified solution… If the arbitration decision requires payment of money from our side, we will ensure its payment, God willing.”

https://x.com/MalikRiaz_/status/1952732889071673567/photo/1

He expressed confidence that Pakistan’s institutions would act “with justice, wisdom, and prudence” and help resolve the crisis.

Bahria Town’s Financial Strain

Riaz revealed that Bahria Town’s cash flow had “completely collapsed,” making it impossible to provide daily services or pay salaries to “tens of thousands” of staff. He warned that a total shutdown of Bahria Town’s operations nationwide was imminent.

“We are certainly one step behind this last step, but the situation on the ground is getting worse by the minute,” he said.

Ongoing Court Proceedings

Last month, the IHC issued notices on NAB’s petition to vacate a stay order preventing the auction of six Bahria Town properties in Rawalpindi and Islamabad.

In June, NAB froze over 450 immovable properties linked to the Bahria Town Karachi land grab case. The IHC had also halted a planned June 12 auction of Bahria Town’s assets.