KARACHI: Pakistani real estate magnate Malik Riaz Hussain said on Tuesday his property empire was on the verge of total shutdown, blaming a widening state crackdown over what is widely believed to be his links with jailed former prime minister Imran Khan.
Hussain — one of Pakistan’s wealthiest and most influential businessmen, best known as the chairman of Bahria Town Limited — has spoken publicly for months about being pressured due to “political motives” and facing financial losses as the National Accountability Bureau (NAB) opens cases against his property development projects across Pakistan. While he has not explicitly named who was pressuring him or why, media and analysts widely speculate the crackdown relates to the Al-Qadir Trust case, which involves accusations Khan and his wife, during his premiership from 2018-2022, were given land by Hussain as a bribe in exchange for illegal favors. In January, a court sentenced Khan to 14 years imprisonment in the Al-Qadir Trust case.
In January, NAB said it had kickstarted the process of seeking the extradition from the UAE of Hussain in connection with the land bribe case. Hussain has been widely known for decades for his links with political parties, the media and the civil and military establishment, and has been considered ‘untouchable’ in the past.
