Property Tycoon Malik Riyadh’s Housing Society is being auctioned for the property of Bahri Town.
The auction appointed by the National Accountability Bureau (NAB) will be held at the office of NAB Rawalpindi in Sector G.Six One, Islamabad.
On the other hand, however, Bahria Town filed a petition in the Supreme Court on yesterday (Wednesday), challenging the Islamabad High Court’s decision to prevent the auction of the property.
A petition submitted by Bahria Town’s lawyer and Pakistan People’s Party Senator Farooq Naik has taken a stand that the Islamabad High Court verdict should be canceled and on Thursday (August 7), the auction process should be suspended until the appeal is fixed.
On August 5, the Islamabad High Court rejected the Bahria Town petition against the property auction and allowed NAB to auction the property of the Housing Society.
Currently, Dubai -based Malik Riaz is one of the richest and most influential businessmen in Pakistan.
According to a statement issued by NAB, the auctioned assets include the corporate office, located in the plot number DSON, located in Bahria Town Phase two in Bahralpindi, which is the second corporate office in the plot number Econ, Rubesh Marki and the lawn, near the Bahri Garden City Golf Course.
While the court’s verdict may potentially affect Malik Riyaz, on the other hand, millions of residents of Multi Town are also in Kaksh after judicial decision.
Subhan Janjua, a resident of Bahria Town, expressed serious concern over the auction, called it a ‘concern for a citizen’.
He said to independent Urdu: ‘If someone’s properties are auctioned in this way, it is excessive, whether it is Malik Riyadh or an ordinary citizen.’
Subhan said that Malik Riyadh was being pressured against Imran Khan to become an forgiveness in 190 million pounds.
He said that he has been associated with Bahria Town since 1999. “The region offers a safe and excellent lifestyle, but recent judicial decisions have banned property and taxation on property.”
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Regarding the impact of the auction, Subhan said that he had influenced millions of dealers, construction workers and investors. ‘At the same time, he raised the question:’ When the money was going out of the country, where were the institutes? And now only the Navy is being targeted. ,
He demanded the officials that ‘former Commissioner of Islamabad and Rawalpindi, Deputy Commissioner, Rawalpindi Development Authority and Chairman of Capital Development Authority and officials of the Federal Board of Revenue should also be prosecuted as their negligence is possible.
According to Subhan: ‘Our properties are now day -valu and if any other society occupies the Navy, it will be an occupation, not an acquisition. The Defense Housing Authority (DHA) also does not provide facilities to the Navy, but now our lifestyle is getting affected. ,
On the other hand, Bahria Town owner Malik Riaz said in his statement on X that if immediate steps were not taken, Bahria Town had reached close to the closure.
He said: ‘The flow of our money has been completely destroyed, it has become impossible to provide everyday services. Tens of thousands of employees are unable to pay salaries and the situation has reached that we are forced to completely close the activities of all Bahria city in Pakistan.
Malik Riaz appealed to the government and the concerned agencies and said that he should be given an opportunity to return to ‘serious dialogue and a dignified solution’ so that the matter can be finished.
At the same time, he offered to participate in the arbitration process and said that he would join any fair arbitration and accept the decision 100 % and the money would be paid if any financial payment is made as per the decision.
Independent Urdu contacted the federal minister for federal information and broadcasting, which was broadcasting ATA Tarad to respond to Malik Riaz’s statements and demands, but his team replied that ‘he would not be able to talk about it’.
However, federal minister Atta Tarad said in a statement last night that the federal investigative agency (FIA) found evidence of money laundering of Rs 12 billion rupees against Bahria Town.
Atta Tarad said that ‘Safari Hospital was being used as a front office, where illegal records and cash were kept and ambulances were used to transfer these documents and funds.’
The Federal Information and Broadcasting Minister said that it is a mega scam by corruption and hand. During the FIA raid, Bahria Town officials tried to burn the record, but the FIA seized most of the records. Bahria Town’s CFO and Director Finance’s Hundy is evidence of contact with reference network, through which billions of rupees have been sent out illegally from Pakistan. ,
Attad said that it is a ‘launch of investigation’ and ‘more revelations required’. He advised the fugitive to present it before the law.