The government of Pakistan has received the settlement amount of £190 million transferred by the British government after the National Crime Agency (NCA) of the United Kingdom agreed on the settlement of property and assets worth billions of rupees belonging to Malik Riaz Hussain, a Pakistan business tycoon in Frozen Funds investigation.
A special assistant to Prime Minister Shehzad Akbar, while highlighting the details on the matter during a press conference on Thursday, said that the government of Pakistan is thankful to the British crime investigating agency NCA for settling the matter.
Mr. Akbar said that the amount of £190 million has been transferred to the government of Pakistan by the government of the United Kingdom. “The main aim of the government of Pakistan is to bring the looted money back in the country,” he added.
SAPM further said that for the first time in the history of Pakistan, the ill-gotten money was recovered and transferred through a legal process. He said that the role of the government of Pakistan in the procedure was to provide legal assistance to the National Crime Agency (NCA) on the issue.
During the press conference, the special assistant Shehzad Akbar mentioned that the Pakistani government has signed a ‘Deed of Confidentiality’ with the British government in the settlement case. As per the agreement, the Pakistani government cannot highlight operational details related to the case.
According to the details of the case, the amount of £190 million was settled after the National Crime Agency (NCA) reached an agreement with the family of Bahria Town owner Malik Riaz in the UK’s capital London. The property in London was sold by the son of former three-time Prime Minister of Pakistan Hussain Nawaz to the son of Malik Riaz prior to the Panama scandal.