ISLAMABAD: Prime Minister Shehbaz Sharif announced on Tuesday a sum of £190 million repatriated by Britain’s National Crime Agency (NCA) will be used to construct the Daanish University of Applied and Emerging Sciences, a higher education institution aimed at providing research-based learning opportunities to deserving students.
The funds, initially returned to Pakistan in 2019, were linked to property tycoon Malik Riaz, who was suspected of involvement in illicit financial activities. Riaz reached a settlement with UK authorities without admitting guilt. However, the money became the subject of controversy after it was deposited into the Supreme Court account instead of the national treasury to settle a financial penalty imposed on him in a separate case in Pakistan.
The development occurred under the administration of former Prime Minister Imran Khan, who was accused of accepting land worth millions of dollars as a bribe from Riaz by allowing him to benefit from the same amount he had forfeited in Britain. The case later contributed to Khan’s conviction, who was sentenced to 14 years in jail for corruption. Khan, who maintains his innocence, has called the charges politically motivated.
Sharif made the announcement of using the money for the university while chairing a meeting on the Daanish Schools System, which he launched in 2010 as Punjab’s chief minister. During Khan’s tenure as prime minister, Sharif faced embezzlement allegations related to the project, though he was not convicted.
“The £190 million returned by the UK’s National Crime Agency has now been transferred to the federal government’s account following a Supreme Court order,” Sharif said in a statement released by the PM Office. “In line with my vision, these funds will be utilized for the construction of Daanish University.”
The prime minister thanked Pakistan’s chief justice for approving the transfer and directed officials to expedite land acquisition and legal formalities for the university’s establishment in Islamabad’s H-16 sector.
“Daanish University will be an institution where deserving and talented students will receive high-quality research-based education,” he said. “We will ensure that it meets international standards as a top-tier technical and applied sciences university.”
Sharif emphasized cost-effective construction, instructing officials to ensure that the university building maintains a simple design with red-brick construction to minimize expenses.
He also pledged to recruit highly qualified faculty and form a committee for the appointment of the vice chancellor, along with a Board of Trustees to oversee governance.
Sharif, who will serve as the patron of the university, announced plans to expand the Daanish Schools network, with new campuses in Gilgit, Bagh, Neelum Valley and Karachi’s underprivileged areas.