ISLAMABAD – The National Accountability Bureau (NAB) Rawalpindi has successfully auctioned three out of six commercial properties belonging to Bahria Town as part of its ongoing effort to recover outstanding amounts from a court-approved plea bargain settlement.
Among the properties sold, Rubaish Marquee fetched Rs500 million, marking a significant step in the recovery process. Conditional bids have been received for two additional properties, Corporate Office One and Two, with final approval pending. However, no acceptable bids were made for the remaining three properties, which will be re-auctioned at a later date.
The auction of Bahria Town’s properties is part of the judicial plea bargain settlement aimed at recouping outstanding amounts from the real estate company, which has been embroiled in several legal and financial disputes.
This move follows the ongoing investigations and efforts to bring to justice those involved in large-scale financial irregularities within the company.
Federal Minister for Information, Attaullah Tarar, also revealed that the Federal Investigation Agency (FIA) has uncovered substantial evidence of corruption and money laundering linked to Bahria Town. During an operation earlier this week, key documents were seized, showing illegal funds amounting to Rs1.12 billion.
Tarar further disclosed that attempts had been made to destroy crucial records prior to the FIA’s intervention. He questioned why such measures were taken, stating that if no unlawful activities had occurred, there would have been no need to destroy the documents. This revelation further intensifies the scrutiny surrounding Bahria Town’s dealings, as investigations continue into the company’s financial operations.
The auction and ongoing investigation signal the government’s efforts to hold individuals accountable for financial misconduct and recover misappropriated funds.
