ISLAMABAD: Pakistan’s Bahria Town this week appealed to Army Chief Field Marshal Asim Munir to halt the auction of its properties and order an independent review of the process, as authorities intensify a crackdown against founder Malik Riaz Hussain over corruption and money laundering allegations.
The country’s anti-graft body, the National Accountability Bureau (NAB), is pursuing multiple investigations against Hussain, one of the country’s wealthiest property developers, accusing him of laundering money and using state land for private housing projects. Hussain, last reported to be in the United Arab Emirates, has denied wrongdoing, saying the cases against him are “politically motivated.”
As part of the proceedings against him, Pakistani authorities have started auctioning Bahria Town properties. In its letter to the army chief, the company said the crackdown against the organization was discriminatory and the auction process lacked transparency, with valuable assets being sold well below market value.
Bahria Town’s decision to address the appeal to the army chief rather than the courts or NAB highlights the office’s perceived influence in Pakistan’s governance, although the letter itself does not allege any military involvement in the legal proceedings.
“Our humble appeal is that this entire matter may be immediately reviewed through an independent, transparent and impartial process,” the letter said. “Further auction of the disputed properties of Bahria Town may be stopped forthwith.”
“The complete record of all auctions already conducted may be called for and examined,” it added. “The proceedings of every auction, attendance record, details of bidders, valuation, advertisements, approvals, transfers and relevant files may be scrutinized.”
Bahria Town argued that millions of Pakistanis, including homeowners, overseas investors, pensioners and salaried workers, had invested their savings in its housing projects and stood to suffer if auctions continued.
“The consequences of these actions will not be borne by Bahria Town alone,” the letter said, adding that approximately Rs372 billion ($1.3 billion) belonging to ordinary Pakistanis was tied to its projects.
The letter said Bahria Town was not seeking to place itself above the law and remained willing to resolve any liabilities established through due legal process.
The appeal comes as NAB steps up legal action against Hussain, who was declared a proclaimed offender in the Al-Qadir Trust corruption case in 2024. The case involves allegations that former prime minister Imran Khan and his wife received land from Hussain in exchange for illegal favors during Khan’s tenure in office. Hussain, Khan and Khan’s wife have all denied wrongdoing.
In April this year, NAB said Interpol had issued Red Notices for Hussain and his son at the anti-graft body’s request and that Pakistan would seek his return from the UAE to face money laundering charges involving more than Rs700 billion ($2.5 billion).
Last month, NAB also alleged Bahria Town used an illicit hawala and hundi network to launder proceeds of crime abroad and accused Hussain’s son, Ahmed Ali Riaz, the company’s chief executive, and his wife of maintaining foreign bank accounts in Mauritius. Bahria Town has denied the allegations.
