Interpol issues red notices for Malik Riaz, son: IMF report ‘highly biased’: NAB

ISLAMABAD: Chairman of the National Accountability Bureau (NAB), Lt Gen Nazir Ahmed Butt (retd), on Wednesday, said the International Monetary Fund (IMF) report on governance and corruption was highly biased and inappropriate. “When you give these IMF people access, they simply enter your bedroom, ” the anti-graft body chairman warned, highlighting the risks of excessive external influence on domestic affairs. “Until you are engaged with the IMF, it will not give you a clean chit, ” Butt said during a media interaction while responding to a question about the IMF governance and corruption diagnostic report, which indicates that Pakistan loses approximately 5 percent to 6. 5 percent of its GDP annually (estimated at USD 20-26 billion) due to entrenched corruption and elite capture. He said he has decided not to take the IMF report seriously. He alleged that the IMF always downgrades the rating of those countries, such as Iran, North Korea, etc which do not have good relations with the United States. The IMF report contains inaccurate data, he said. READ MORE: Corruption a persistent challenge in Pakistan, says IMF The NAB chairman also questioned the impartiality of Transparency International, saying, “Can anyone guarantee that Transparency International is an impartial organization? ” He further said that Interpol has issued red notices against Bahria Town owner Malik Riaz and his son Ali Riaz. “Today I am giving you news that the Interpol has issued a red notice against Malik Riaz and Ali Riaz, ” he said. Chairman NAB said that the bureau will approach the UAE to extradite Malik Riaz and his son. Amjad Aulakh, Director General (DG) of NAB operations, also briefed the media about the anti-graft recoveries in the first quarter of 2026. He said during the first quarter of 2026, the bureau had recovered Rs. 2, 962 billion, reflecting an increase of 33 times compared to Rs. 91. 01 billion recovered in the first quarter of 2025. The NAB official said that during the quarter, the NAB authorized 8, 563 new complaints, of which 8, 214 were disposed of, while 471 cases are currently being pursued. As many as 745 inquiries were carried forward, 44 new inquiries were initiated, and 34 were concluded, leaving 755 inquiries under process, he said, adding 205 investigations were carried forward, only five new ones were authorized, 23 were completed, and 187 remain in progress. During the period, the NAB has carried forward 289 corruption references, nine new cases were filed, 38 were disposed of, and 260 are still under trial. DG NAB said that important ongoing references include the Eden Housing Society case in Lahore, involving alleged corruption of Rs16 billion, and a case against Malik Riaz Hussain and others in Bahria Icon Karachi, involving alleged embezzlement of Rs76. 12 billion. Another case against Malik Riaz Hussain and others relates to Bahria Golf City Islamabad, involving alleged fraud of Rs152 billion, he said. He said another important case against Ch. Pervaiz Elahi and others in the Takht Pari case are alleged to have committed fraud of Rs335 billion. He added that the Asif Javed case, linked to the Elixir Group, involves alleged fraud of Rs11 billion, while the Bankers City Rawalpindi reference involves alleged graft of Rs2. 65 billion. Another reference against Malik Riaz Hussain and others concerns the Malir Development Authority, related to illegal adjustment of land in Malir, involving alleged fraud of Rs708 billion. He said major ongoing investigations include a probe into former minister for water resources Monis Elahi, involving alleged fraud of Rs1. 2 billion, the Cholistan Development Authority (Shikargah) case involving alleged fraud of Rs555 billion, and another significant case against Amjad Aziz in land matters in Lahore Cantt, involving alleged fraud of Rs150 billion. Copyright Business Recorder, 2026

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