Bahria Town properties to be auctioned on June 12

ISLAMABAD: The National Accountability Bureau (NAB) is set to auction some of the confiscated properties of Bahria Town on June 12, as Malik Riaz, the property tycoon, is under the radar for financial irregularities.

Five of these properties are in Rawalpindi and one in Islamabad.

Malik Riaz is currently an absconder in the 190 million pound Al-Qadir Trust case, in which Imran Khan, the PTI founding chairman, and his wife Bushra Bibi have been sentenced.

In this scenario, the anti-graft watchdog has warned the public repeatedly to “avoid any attractive inducements from Bahria Town and to protect their hard-earned savings”.

The reason behind auctioning these properties is to recover the defaulted amount of a plea bargain under Section 33E of the NAB Ordinance 1999.

Meanwhile, the Bahria Town Corporate Office is among the properties on offer for interested parties.

Earlier in February, the NAB had also filed two references against Bahria Town pertaining to the Golf City project in Murree and another project in Takht Pari Forest of Rawalpindi.

Given the scenario, investors have started to worry over the possible loss of their hard-earned money as the NAB started sealing several residential and commercial properties of Malik Riaz’s organisation across the country.

Read more: NAB seals Bahria Town properties, investors worried

On the other hand, the residents have been complaining about the excessive charges, amid a long list of complaints.

Read more: Residents sue Bahria Town over excessive electricity bills

It only shows how powerful fleece the people in the absence of accountability and regulation.