ISLAMABAD: Prime Minister Shehbaz Sharif Tuesday announced that £190 million – approximately Rs54 billion – had been transferred to the federal government from the Supreme Court of Pakistan’s account and would now be used to establish the Danish University of Applied and Emerging Sciences.
The £190 million, which was initially sent to Pakistan in 2019, was linked to property mogul Malik Riaz, who was suspected of involvement in illicit financial activities. Riaz reached a settlement with the UK’s National Crime Agency (NCA) without admitting guilt. However, controversy arose when the money was deposited into the Supreme Court account instead of the national treasury to settle a financial penalty imposed on him in a separate case in Pakistan.
It all took place when Imran Khan was prime minister, who was later accused of accepting land worth millions of dollars as a bribe from Riaz by allowing him to benefit from the same amount he had forfeited in England.
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After the ouster of Imran Khan from power, the case contributed to his conviction and 14-year jail sentence for corruption, which he insists is politically motivated.
Sharif, while chairing a meeting of the Danish Schools System’s steering committee, which he started in 2010 as chief minister of Punjab, announced the allocation of the funds for the Danish University for Applied and Emerging Sciences.
During Imran Khan’s time as prime minister, Sharif faced accusations of misappropriation in connection with the Danish School projects, but no charges were proven.
He stated that these funds would be used for the establishment of Danish University, aligning with his vision.
Expressing gratitude to Chief Justice of Pakistan for approving the transfer, Sharif directed the officials to expedite the necessary procedures for acquiring land and legal formalities for the university’s location in Islamabad’s H-16 sector.
Sharif outlined his vision for Danish University as a place where deserving and talented students would receive quality research-based education, meeting international standards as a premier technical and applied sciences institution.
He stressed the importance of cost-effective construction, directing officials to ensure a simple design with red-brick construction to minimise costs.
Copyright Business Recorder, 2025
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