You cannot run this kind of business without keeping army happy, no way. He is good in keeping the "right:" people happy.
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How rich is Malik Riaz?
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You cannot run this kind of business without keeping army happy, no way. He is good in keeping the "right:" people happy.
Bewal Express
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If Nooras had won the election, this case would have died. No wonder the mafia and their supporters on here curse IK. All these people are the enemies of PK.
Adijazz1706
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SC is saying 358B Rs are not enough for 16,896 acres. That is about 21M Rs per Acres or 2.6M Rs per Canal of under developed land. Parks, roads and open space generally constitute 20-35% of the community. If you take that into account price looks even more unreasonable. SC and establishment is using muscle power to bully MR. I don't know if there is any under developed piece of land anywhere in the country that can be so expensive, specially 17000 acres of them
Its also not cleared to me issue is of 7000 Acres or all of 16,896?? - If its 7000, issue is much more damming from SC and establishment side...
Looking at this, I don't know if anybody wants to do business in Pakistan without Establishment backing(aka MIL backing), because if you are successful you are doomed, not just you but your generations...Sort of that happens to Politicians as well. Bhuttos are completely wiped out, in few decades... Exceptions are the ones, who are in bed with MIL, otherwise you need to find a new home, Pakistan is not a place for you...MIL don't want Entrepreneur culture in Pakistan, they see them as threat not somebody who is helping you built the country...
This is in strake contrast to US, where 50% of DOD budget goes to private defense contractors. R&D is pretty much outsourced to private sector(Govt based R&D is isolated from Army, they are mostly separate and independent culturally), Drone Tech was build by private sector that leveraged the US leadership in Software Tech. US MIL don't have stomach nor capability to go after private sector, actually some time they give away tech to private sector for Tech to really flourish, like Internet, Laser, microwave and many techs like that. Key cultural difference is in Capitalist society private sector is only proper channel to make money. Where as in Pakistan entire focus is to be part of Establishment and make money off of public sector, this is where the fundamental corruption lies. If you want to get rid of corruption, you have to privatize as much as you can and regulate private sector, with focus of how to let it flourish. People like MR are pioneer of private sector, in many ways like Rockafella, Carney, Edison, Gates and many other US Enterpreneur, most of them did not built everything clean. Society leverage and learned from them and improve the system so that next generation is not allowed to made same mistakes, but country need these pioneer as much as these guys need country to play with, its a partnership...
There is a reason MIL based or backed businesses are very successful. They don't have to pay taxes, can get their debt forgiven. I wonder if SC will investigate all the debt forgiveness services Pakistan has been providing to MIL, Corrupt Politicians, Businessman (relatives of MIL and POL) in last 50 years??
First you said he doesn't have the money, now you say he has it but is being asked to pay too much. Stuff like this is why relative morality never works
Bewal Express
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First you said he doesn't have the money, now you say he has it but is being asked to pay too much. Stuff like this is why relative morality never works
He not only said he doesn't have the money, which he clearly does, he others claimed that the army was bullying him which if anyone knows his power knows is a lie. IA IK is about to get back the billions he promised.
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ISLAMABAD: The Supreme Court will resume contempt of court proceedings against property tycoon Malik Riaz Hussain on Thursday (Feb 7) for hurling harsh allegations over six and a half years ago against then chief justice Iftikhar Mohammad Chaudhry and his son for alleged business deals.
A three-judge SC bench comprising Chief Justice Asif Saeed Khosa, Justice Maqbool Baqar and Justice Syed Mansoor Ali Shah will take up the contempt of court proceedings initiated in June 2012 against chairperson of Messrs Bahria Town (Pvt) Ltd Malik Riaz for allegedly influencing judicial proceedings then.
While senior counsel Dr Abdul Basit had represented Mr Riaz in the contempt case in 2012, he said he was not sure if he would still be appearing on behalf of the respondent when asked about it.
Currently, in a majority of cases being heard by the apex court such as the implementation of the May 4, 2018 judgement against the housing schemes launched by Bahria Town in Malir, Rawalpindi and Murree, Mr Riaz is being defended by a panel of lawyers led by Barrister Ali Zafar, Aitzaz Ahsan, Zahid Bukhari and others.
SC to resume proceedings against Malik Riaz for hurling allegations against then CJP Iftikhar Chaudhry
The contempt proceedings against the property tycoon were initiated on June 13, 2012 by a three-judge bench comprising former judges namely Justice Mian Shakirullah Jan, Justice Tariq Parvez and Justice Amir Hani Muslim that sat beyond normal court timings to issue him a show-cause notice for hurling allegations against the then CJP at a press conference.
Mr Riaz had raised three questions while addressing the press conference for then CJP Chaudhry to answer against the backdrop of alleged financial wrongdoings by his son, Dr Arsalan Iftikhar. The property tycoon accused the then chief justice of holding late-night secret meetings.
The notice was taken on a note put up by then registrar of the SC Dr Faqir Hussain annexing the Urdu transcript of whatever had been stated by Mr Riaz verbatim in the media conference on charges of scandalising and bringing the court and its judges into hatred, ridicule, lowering the SC authority and also showing disrespect to the institution. The press conference also caused obstruction in the administration of justice due to the pending cases related to Bahria Town, the notice stated.
Later on Aug 9, Mr Riaz was formally indicted for committing contempt of court and the apex court asked then attorney general Irfan Qadir to prosecute him. Separately, Advocate Ashraf Gujjar moved a petition seeking placement of the name of the accused on the Exit Control List (ECL).
Next month the then attorney general furnished a list of witnesses, including former chief justice Iftikhar Chaudhry, his son Dr Arsalan, former registrar Dr Hussain, former premier Yousuf Raza Gilani and Salman Ahmed, son-in-law of Mr Riaz.
However, the apex court ruled on Sept 20 that Mr Qadir was not competent to prosecute the accused as he had represented the same accused as his defence counsel in the past. The bench also ordered its registrar to submit a list of senior counsel amongst whom the court would select one to act as a prosecutor on behalf of the court.
On Oct 26, Mr Qadir challenged the Sept 20 order in the SC with a request that he should be restored to prosecute Mr Riaz in the contempt case since it was both a requirement of the law as well as necessary to ensure a fair trial to the contemnor.
In his review petition, Mr Qadir had emphasised the importance of the AG, contenting that the job of the prosecutor was so important that it could not be allowed to be tainted with bias.
An element of bias in any corner of the prosecutor’s mind could vitiate the entire process of contempt proceedings, he said, adding that an advocate or a person appearing in defence could get away with bias but even a speck of bias on part of a prosecutor could wreak havoc on the process.
If the AG was biased in favour of the court, fair trial would be reduced to impossibility and if he was biased in favour of the respondent, dignity of the court would be compromised, the review petition had said.
https://www.dawn.com/news/1461376/property-tycoon-malik-riaz-to-face-contempt-case-next-week
A three-judge SC bench comprising Chief Justice Asif Saeed Khosa, Justice Maqbool Baqar and Justice Syed Mansoor Ali Shah will take up the contempt of court proceedings initiated in June 2012 against chairperson of Messrs Bahria Town (Pvt) Ltd Malik Riaz for allegedly influencing judicial proceedings then.
While senior counsel Dr Abdul Basit had represented Mr Riaz in the contempt case in 2012, he said he was not sure if he would still be appearing on behalf of the respondent when asked about it.
Currently, in a majority of cases being heard by the apex court such as the implementation of the May 4, 2018 judgement against the housing schemes launched by Bahria Town in Malir, Rawalpindi and Murree, Mr Riaz is being defended by a panel of lawyers led by Barrister Ali Zafar, Aitzaz Ahsan, Zahid Bukhari and others.
SC to resume proceedings against Malik Riaz for hurling allegations against then CJP Iftikhar Chaudhry
The contempt proceedings against the property tycoon were initiated on June 13, 2012 by a three-judge bench comprising former judges namely Justice Mian Shakirullah Jan, Justice Tariq Parvez and Justice Amir Hani Muslim that sat beyond normal court timings to issue him a show-cause notice for hurling allegations against the then CJP at a press conference.
Mr Riaz had raised three questions while addressing the press conference for then CJP Chaudhry to answer against the backdrop of alleged financial wrongdoings by his son, Dr Arsalan Iftikhar. The property tycoon accused the then chief justice of holding late-night secret meetings.
The notice was taken on a note put up by then registrar of the SC Dr Faqir Hussain annexing the Urdu transcript of whatever had been stated by Mr Riaz verbatim in the media conference on charges of scandalising and bringing the court and its judges into hatred, ridicule, lowering the SC authority and also showing disrespect to the institution. The press conference also caused obstruction in the administration of justice due to the pending cases related to Bahria Town, the notice stated.
Later on Aug 9, Mr Riaz was formally indicted for committing contempt of court and the apex court asked then attorney general Irfan Qadir to prosecute him. Separately, Advocate Ashraf Gujjar moved a petition seeking placement of the name of the accused on the Exit Control List (ECL).
Next month the then attorney general furnished a list of witnesses, including former chief justice Iftikhar Chaudhry, his son Dr Arsalan, former registrar Dr Hussain, former premier Yousuf Raza Gilani and Salman Ahmed, son-in-law of Mr Riaz.
However, the apex court ruled on Sept 20 that Mr Qadir was not competent to prosecute the accused as he had represented the same accused as his defence counsel in the past. The bench also ordered its registrar to submit a list of senior counsel amongst whom the court would select one to act as a prosecutor on behalf of the court.
On Oct 26, Mr Qadir challenged the Sept 20 order in the SC with a request that he should be restored to prosecute Mr Riaz in the contempt case since it was both a requirement of the law as well as necessary to ensure a fair trial to the contemnor.
In his review petition, Mr Qadir had emphasised the importance of the AG, contenting that the job of the prosecutor was so important that it could not be allowed to be tainted with bias.
An element of bias in any corner of the prosecutor’s mind could vitiate the entire process of contempt proceedings, he said, adding that an advocate or a person appearing in defence could get away with bias but even a speck of bias on part of a prosecutor could wreak havoc on the process.
If the AG was biased in favour of the court, fair trial would be reduced to impossibility and if he was biased in favour of the respondent, dignity of the court would be compromised, the review petition had said.
https://www.dawn.com/news/1461376/property-tycoon-malik-riaz-to-face-contempt-case-next-week
Bewal Express
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The background to the case is that to blackmail the then CJP Choudhry, MR had gone into " Business" with ex CJP Choudhry son. This was no business, it was an attempt to buy influence. The SC then asked the PPP govt to write a letter to the Swiss authorities about the $60mn in the bank accounts, the "competent govt" wouldn't do it and Gilani was disqualified and AZ wasn't happy. And then AZ played his card of MR
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ISLAMABAD: The accountability court here on Monday approved acquittal of Zain Malik, son-in-law of property tycoon Malik Riaz, in six cases pertaining to fake accounts after the suspect pledged to pay Rs9.5 billion in plea bargain.
The National Accountability Bureau (NAB) submitted a schedule of payment to the accountability court.
Accountability Court judge Mohammad Bashir took up applications of Mr Malik seeking acquittal in three under-trial cases and approved them.
Zain undertook to mortgage his six properties and pay Rs4 billion in one case, Rs170 million in another and Rs37 million in the third case to NAB, Rawalpindi Directorate, in three years. He will pay the amount in instalments in three months’ interval.
Mr Malik joined the court’s proceeding through a video link from the UK.
When the judge asked the son-in-law of Malik Riaz whether he knew consequences of acquittal through the plea bargain, he replied in the affirmative.
The acquittal under the plea bargain did not absolve the accused from the case as the conviction stands despite acquittal.
Mr Malik is accused in the fake accounts cases of Pink Residency, Illegal Allotment and Mega Money Laundering.
He is also an accused in the Icon Tower case of Karachi. He has to formally plead in the accountability court in this case for acquittal under the plea bargain.
https://www.dawn.com/news/1576245/m...acquitted-in-six-cases-on-rs95bn-plea-bargain
The National Accountability Bureau (NAB) submitted a schedule of payment to the accountability court.
Accountability Court judge Mohammad Bashir took up applications of Mr Malik seeking acquittal in three under-trial cases and approved them.
Zain undertook to mortgage his six properties and pay Rs4 billion in one case, Rs170 million in another and Rs37 million in the third case to NAB, Rawalpindi Directorate, in three years. He will pay the amount in instalments in three months’ interval.
Mr Malik joined the court’s proceeding through a video link from the UK.
When the judge asked the son-in-law of Malik Riaz whether he knew consequences of acquittal through the plea bargain, he replied in the affirmative.
The acquittal under the plea bargain did not absolve the accused from the case as the conviction stands despite acquittal.
Mr Malik is accused in the fake accounts cases of Pink Residency, Illegal Allotment and Mega Money Laundering.
He is also an accused in the Icon Tower case of Karachi. He has to formally plead in the accountability court in this case for acquittal under the plea bargain.
https://www.dawn.com/news/1576245/m...acquitted-in-six-cases-on-rs95bn-plea-bargain
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Beyond real estate: Malik Riaz transforms social welfare in Pakistan
With Pakistan’s economy so dire that its government can no longer take up social welfare projects, private corporations and businesses are picking up the slack. One such is Bahria Town Foundation of Malik Riaz, Asia’s largest real estate developer. Through this Foundation, Malik Riaz, alongside his son, Ahmed Ali Riaz, has established numerous programmes focusing on providing healthcare, education, and financial aid to underprivileged communities, writes Nicholas Dempsie in a research-based article for ‘The World Financial Review’.
The Foundation’s trailblazing programmes include Bahria Dastarkhawan, a social welfare initiative aiming to eradicate hunger through its centres across the country that serve free meals twice a day, every day, to anyone who walks in, Dempsie further states in the article.
‘The World Financial Review’ is a platform for top scholars, economists, consultants, senior executives and global leaders from all over the world to showcase their unique insights and proposals into pressing and emerging financial and global issues.
Dempsie writes that while the international community is focused on dealing with global crises such as viral pandemics and armed conflicts, people in third-world countries face increasingly difficult living conditions. In Pakistan, for instance, poverty has surged by over 5% within just one year, with 40% of the population living below the poverty line.
Beyond real estate: Malik Riaz transforms social welfare in Pakistan | The Express Tribune
Bahria Town Foundation focuses on providing healthcare, education, and financial aid to underprivileged communities
