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Govt To Use £190 Million Received From Malik Riaz’s UK Settlement For ‘Social Welfare’

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Special Assistant to the Prime Minister on Accountability, Mirza Shahzad Akbar has said that £190 million from Malik Riaz’s settlement with the UK government will be used by the government on social welfare.

 

Akbar took to Twitter to make this announcement amidst rumors that the money will be used to pay Malik Riaz’s fines to the Supreme Court.

Business tycoon Malik Riaz, on Tuesday, reached a settlement with UK crime watchdog over an investigation into his accounts. According to the settlement, the £190 million will be repatriated to the state of Pakistan. Of this £190 million, £140 million is in various accounts while £50 million is in the form of various properties.

Earlier in March Malik Riaz had reached a settlement with the Supreme Court of Pakistan over a land dispute. The apex court had fined him 460 million rupees that were to be paid over a period of seven months.

Akbar further said that £140 million has already been transferred to them while the rest will be transferred after Malik Riaz’s properties are sold. He added that he can’t  further comment on the case because of a confidentiality agreement that the Government of Pakistan had signed with the Government of the UK.

 

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Akbar in a press conference on Thursday had previously said that the Supreme Court tries to reach settlements over civil cases rather than sending people to jail. He added that this was the first time that money was being repatriated to Pakistan from a foreign country.

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