Bahria Town Head Office sealed by Punjab health department

RAWALPINDI: The Bahria Town Head Office in Rawalpindi and Islamabad was sealed by the Punjab Health Department on Monday. As per sources, the Bahria Town Head Office in Phase 8 was sealed for “non-compliance of dengue” standard operating procedures (SOPs), specifically related to the fountains in the office premises. The measure was taken as part of health and safety enforcement to prevent dengue spread.

Given the recent developments regarding tycoon Malik Riaz’s assets including Bahria Town, there was a lot of panic amongst the residents and property owners but it was clarified that the move was to curb the viral infection.

NAB assures Bahria Town residents and property owners that assets are safe

NAB has assured Bahria Town residents and property owners that their assets are safe, dismissing rumours as a ploy to drive down prices. NAB said residents are victims of fraud, not targets, and that action is focused solely on Bahria Town’s owners, particularly business tycoon Malik Riaz, whose properties worth billions are being auctioned.

Read more: Uncertainty grips Bahria Town residents after auction of Malik Riaz’s assets

Despite these assurances, uncertainty looms over Bahria Town projects nationwide, alarming millions of local and overseas investors. Pakistan’s property market has seen a sharp decline in recent weeks, with prices plunging and sellers flooding the market as buyers vanish.

SC rejects plea for a stay order

The Supreme Court rejected a plea for a stay order against the auction of Bahria Town properties, adjourning the case until August 13. Justices directed the submission of references to determine the extent of alleged embezzlement. The accused, including Malik Riaz, had surrendered eight properties to NAB under a plea bargain but later claimed coercion, seeking to cancel the deal. The court questioned NAB’s move to auction the properties after the bargain’s withdrawal, noting confiscation requires conviction. Earlier, the Islamabad High Court dismissed a similar plea. NAB plans to auction six properties after Riaz and his son failed to pay £190 million.