Cabinet Meeting Discusses Recover of £ 19m from Malik Riaz

Cabinet Meeting Discusses Recover of £ 19m from Malik Riaz

Posted on Dec 4, 2019

ISLAMABAD: The Federal Cabinet has discussed the issue of the Recover of £ 19m from the British National Crime Agency (NCA) to the family of real estate tycoon Malik Riaz and extradited to Pakistan.

According to reports, sources who attended the meeting told that when Prime Minister's Secretariat officials and other ministers left the meeting, Prime Minister Imran Khan discussed some of the issues with the cabinet members.

According to a press release from the Prime Minister's Office in this regard, the Assistance Recovery Unit (ARU) will assist in recovering 19 million pounds (about $ 25 million) under the settlement.

It is to be noted that the UK's National Crime Agency (NCA) has settled out of court with a family linked to property development in Pakistan and agreed to return the funds immediately to the state of Pakistan.

"The settlement of £ 19 million is the result of an inquiry into Pakistan's major private investor Malik Riaz and it is a civil matter in which no crime has been proved," the decision said.

Sources claimed that the N to A had launched an investigation at the request of the Pakistan Tehreek-e-Insaf Government, which was convinced that the PML-N leader sent money to the UK through money laundering.

Mian Tajamul

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