Three Convicted in Bahria Town Foreign Exchange Case Over Illegal Money Transfers

Karachi: A local court has sentenced three individuals to one year in prison each for illegally transferring funds abroad for various Bahria Town projects in violation of Pakistan’s foreign exchange laws.

The case was heard by Additional District and Sessions Judge Nasr Minallah Baloch. The court found the three accused guilty under the Foreign Exchange Regulation Act and also imposed a fine of Rs500,000 on each convict.

According to the prosecution, the convicted individuals transferred money overseas through hawala and hundi channels for Bahria Town projects, bypassing legal banking procedures.

Separately, Bahria Town’s management has written a letter to Pakistan’s Army Chief, Field Marshal Syed Asim Munir, requesting intervention over the alleged auction of its properties at prices significantly below their market value.

In the letter, the company claimed that assets worth billions of rupees were being auctioned at undervalued prices, raising concerns about transparency. It further stated that investments exceeding Rs372 billion, belonging to overseas Pakistanis, widows, and other citizens, were at risk.

Bahria Town appealed for an independent and transparent investigation into the matter and requested that the auction process be suspended until the inquiry is completed. The company also said it remains committed to resolving all outstanding disputes through legal procedures, dialogue, and arbitration.