ISLAMABAD: Special Assistant to Prime Minister on Accountability Shahzad Akbar on Friday said the government has numerous ongoing matters, similar to the business tycoon Malik Riaz’s, with the foreign governments including the United Kingdom (UK).
“The federal government is expecting recovering hundreds of millions dollars, therefore it cannot afford violating its commitment of confidentiality. Pakistan has signed a confidentiality agreement to not divulge beyond this on the matter,” Shahzad Akbar said in a thread of tweets.
On repatriation of Pakistani business tycoon Malik Riaz Hussain’s 190 million GBP (the British pound sterling) through a settlement, Shahzad Akbar said for the sake of clarity on £190 million settlement, money transferred was under a ‘settlement agreement’ between the National Crime Agency (NCA) and Riaz family.
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“9 Assets Freezing Orders were obtained by NCA and after agreeing to settle the matter out of court, £140 million have been transferred to the State of Pakistan,” he said adding that the settlement agreement also entailed selling 1 Hyde Park and transferring its proceeds to State of Pakistan.
The prime minister’s special aide said the money was transferred into the Supreme Court of Pakistan’s National Bank of Pakistan account.
“The federal govt has made an application to the SCP for release of this money for spending it on social welfare and for poor,” he said.
According to a press release issued by the Prime Minister office on Dec 4, the United Kingdom’s National Crime Agency had agreed an out of court settlement in a pending investigation with a Pakistani family that owns large property developments in Pakistan and elsewhere. The NCA had also agreed for immediate repatriation of funds to Pakistan.
“The settlement is a civil matter and does not represent a finding of guilt. The settlement is the result of an investigation by the NCA into Malik Riaz Hussain, a Pakistani national, whose business is one of the biggest private sector employers in Pakistan,” the PR had said.