Malik Riaz seeks dialogue through arbitration to avert Bahria Town shutdown

ISLAMABAD: After the National Accountability Bureau (NAB) announced August 7, as the date for auctioning several properties belonging to Bahria Town owner Malik Riaz, the property tycoon said that the real estate giant’s operations across the country have been severely paralysed.

At the same time, he has made a final appeal for a chance to return to serious dialogue and a dignified resolution with a full participation in any arbitration process and implement its decision 100 per cent.

“My dear Pakistani brothers and sisters, I regret to inform you that due to the unprecedented pressure exerted by government agencies over the past few months — including the arrest of dozens of staff members, freezing of all company bank accounts, seizure of staff vehicles, and other stringent measures — Bahria Town’s operations nationwide have been brought to a standstill,” Malik Riaz said in a social media post.

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— Malik Riaz Hussain (@MalikRiaz_) August 5, 2025

His statement came in the wake of the Islamabad High Court’s verdict rejecting all petitions aimed at stopping the auction of Bahria Town properties, thereby clearing the way for the NAB to proceed with the sale.

“Our cash flow has been completely disrupted. It has become impossible to carry out daily services or pay the salaries of our tens of thousands of employees. We are now one step away from completely shutting down all Bahria Town activities across Pakistan. The situation is worsening by the minute,” he said.

He added that the infrastructure of the organisation — which employs 50,000 people — had been crippled. “Many senior staff members are still missing, services remain suspended, development projects have come to a halt, and basic maintenance and amenities in our communities have been severely impacted.”

Calling it a “serious crisis for the country’s economy,” Malik Riaz noted that trillions of rupees in investment by millions of Pakistanis across Bahria Town projects — from Karachi to Lahore and Islamabad — were now frozen. “Commercial projects worth hundreds of billions remain incomplete. Thousands of families are facing uncertainty and mental anguish.”

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He offered an apology to the millions of residents and stakeholders who have been affected by the ongoing situation. “We sincerely apologise to our community members who are suffering due to these circumstances. I am grateful for your patience. Despite these harsh conditions, you have not lost hope. Your resilience gives us strength.”

Recounting Bahria Town’s contributions, Riaz said: “In the past two decades, Bahria Town has built world-class settlements in Karachi, Lahore, and Islamabad, created millions of jobs, and contributed billions to the national exchequer — a legacy that is part of Pakistan’s collective progress.”

He expressed hope that Pakistan’s institutions would act with “justice, wisdom, and prudence” in leading the country out of this difficult period.

“I make a final appeal from the bottom of my heart for a chance to return to serious dialogue and a dignified resolution. For this purpose, we assure you of our full participation in any arbitration process and our commitment to implementing its decision 100 per cent.”

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He further assured: “If the arbitration requires payment from our side, we will fulfil that obligation, God willing. We are prepared to sacrifice our bodies and money for the people of Pakistan and the state’s most powerful institutions, with complete sincerity.”

“Alhamdulillah, we want to continue serving our beloved country — not to leave quietly under these circumstances.”