Pakistan recovers $1.6 billion in looted wealth, compensates over 12,000 individuals and public entities

A money changer sits with a showcase, displaying Pakistan's banknotes, along a road in Karachi, Pakistan, on September 12, 2023. (REUTERS/File)
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Updated 09 August 2025
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Pakistan recovers $1.6 billion in looted wealth, compensates over 12,000 individuals and public entities

  • The recovery made in second quarter of this year marks a substantial quarterly increase of Rs365.29 billion
  • The South Asian nation ranks 135 out of 180 countries on Transparency International’s Corruption Perceptions Index

KARACHI: Pakistan’s National Accountability Bureau (NAB) said on Saturday it had recovered Rs456.3 billion ($1.6 billion) worth of looted national wealth and compensated government departments, institutions and more than 12,000 individuals.

NAB is Pakistan’s primary anti-corruption agency and its core function is to eliminate corruption by investigating allegations of corruption, misuse of authority and financial crimes. It also works to recover assets acquired through illegal means.

The watchdog said the Rs456.3 billion recovery in the second quarter of 2025 marked a substantial increase of Rs91.01 billion, compared to Rs365.29 billion recovered during the first quarter of this year.

“Out of said recoveries of Rs547.31 billion for the first two quarters of 2025, movable and immovable properties worth Rs532.33 billion have been disbursed/handed over to different Ministries & Departments of Federal and Provincial Governments as well as Financial Institutions,” it said.

“Whereas, 12,611 affectees of different cheating public at large cases have also been compensated.”

Pakistan ranks 135 out of 180 countries on Transparency International’s Corruption Perceptions Index for 2024, after falling two spots below its ranking in 2023.

In his quarterly report issued on Saturday, NAB said it remains committed to safeguarding state assets and interests of the general public and recovering funds belonging to the national exchequer.

“In the past two years, NAB has recovered a staggering total of Rs5,854.73 billion, which is 700 percent more that of Rs839.08 billion recovered since the Bureau’s inception [in 1999],” it said.

“Currently, NAB is actively coordinating with the revenue departments of all provinces to recover state assets and properties unlawfully held by corrupt elements. Preliminary estimates indicate that state land worth approximately Rs5 trillion is under illegal possession and will be reclaimed.”


US approves sale of $686 million tech upgrade, equipment for Pakistan’s F-16 fighter jets

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US approves sale of $686 million tech upgrade, equipment for Pakistan’s F-16 fighter jets

  • US Defense Security Coope­ration Age­ncy informs Congress sale will allow Pakistan to partner with US in counterterror efforts, won’t alter regional military balance
  • Non-Major Defense Equipment includes aircraft hardware and software modifications, precision navigation, cryptographic devices, and spare and repair parts

ISLAMABAD: The United States has approved the sale of advanced technology support and equipment for Pakistan’s F-16 fighter jets valued at $686 million, according to a letter sent by the US Defense Security Coope­ration Age­ncy (DSCA) to the American Congress, saying the move would allow Islamabad to partner with Washington in ongoing counterterrorism efforts. 

As per a copy of the document dated Dec. 8 seen by Arab News, the letter stated that Islamabad has requested to buy 92 Link-16 systems communication/data-sharing networks and six Mk–82 inert 500-lb general purpose bomb bodies. The letter also said that the sale includes non-Major Defense Equipment items such as aircraft hardware and software modifications, precision navigation, cryptographic devices, other weapons integration, test and support equipment such as spare and repair parts. 

“The estimated total cost is $686 million,” the DSCA’s letter to Congress reads. “This proposed sale will support the foreign policy and national security objectives of the United States by allowing Pakistan to retain interoperability with US and partner forces in ongoing counterterrorism efforts and in preparation for future contingency operations.”

Pakistan and the US have been key allies in battling militants in the region, with Islamabad counted among Washington’s closes non-NATO allies during the “War on Terror” campaign. The proposed sale takes place as Washington, under US President Donald Trump, warms up to Pakistan after his recent meetings with Prime Minister Shehbaz Sharif and Chief of Defense Forces Field Marshal Syed Asim Munir. 

The DSCA letter said the sale will maintain Pakistan’s capability to meet current and future threats by updating and refurbishing its Block–52 and Mid Life Upgrade F–16 fleet. 

“These updates will provide more seamless integration and interoperability between the Pakistan Air Force and the US Air Force in combat operations, exercises, and training, and refurbishment will extend the aircraft life through 2040 while addressing critical flight safety concerns,” the letter added. 

It further said Pakistan has shown a commitment to maintaining its military forces and “will have no difficulty” absorbing these articles into its armed forces. 

“The proposed sale of this equipment and support will not alter the basic military balance in the region,” the letter said. 

The principal contractor for the deal will be Lockheed Martin Company, the DSCA said, adding that the implementation of the sale will not require the assignment of any additional US government or contractor representatives to Pakistan. 

“All defense articles and services listed in this transmittal have been authorized for release and export to the Government of Pakistan,” the letter concluded. 

The development takes place as Pakistan undertakes efforts to expand its fleet of fighter jets, defense exports and deepen military-industrial partnerships with other countries. Islamabad claimed last month that a “friendly country” signed a memorandum of understanding to procure Pakistan’s JF-17 fighter aircraft during the Dubai Airshow 2025. 

The JF-17 Thunder, a multi-role fighter that Pakistan jointly developed with China, has become the backbone of the Pakistan Air Force (PAF) over the past decade. It is designed to replace aging legacy aircraft. 

The South Asian country has been eager to assert its regional dominance, especially when it comes to air warfare, after its four-day military confrontation with India in May. 

Pakistan claimed it shot down seven Indian fighter jets during the May altercation between the two forces. Indian officials have acknowledged their planes were shot down but have refused to share the exact number, rejecting Pakistan’s claim it had shot down seven.