Malik Riaz approaches SC to stop auction of Bahria Town properties

Bahria Town on Wednesday filed an appeal in the Supreme Court seeking to stop the auction of its properties in Rawalpindi and Islamabad.

Bahria Town Chairman Malik Riaz Hussain through senior advocate Farooq H. Naek filed the appeal after a two-member bench of the Islamabad High Court (IHC) dismissed its petitions seeking to prevent the auction of six Bahria Town properties. The auction is due to take place on August 7.

The National Accountability Bureau (NAB) in Rawalpindi announced the fresh auction of the properties after the IHC’s verdict. The move comes after Malik Riaz was declared a fugitive in connection with the £190 million Al-Qadir Trust case.

In a statement earlier, Malik Riaz expressed willingness to engage in arbitration and honour any outcomes, provided the authorities agree to resume “serious dialogue and a dignified resolution.

Also Read: Malik Riaz warns Bahria Town services could collapse amid asset seizures

In a post on his X account, he alleged that government agencies had been putting unprecedented pressure over the past few months, which included the arrest of dozens of staff members, the freezing of the company’s bank accounts, seizure of vehicles and other stringent measures, which had paralysed all of the Bahria Town’s operations across the country.

“The situation has reached a point where we are being forced to completely shut down all Bahria Town activities across Pakistan,” said the statement attributed to Malik Riaz.

“Trillions of rupees of investment by millions of Pakistanis in Bahria Town from Karachi to Lahore and Islamabad have been frozen,” he claimed.