The Axact Controversy

[Good Governance Forum]

COMMENTS POSTED ON

THE AXACT CONTROVERSY – WHODUNNIT? BY DR AWAB ALVI

http://teeth.com.pk/blog/2015/05/20/the-axact-controversy-whodunnit/

NYT broke the story on 17 May whereas the Government of Pakistan moved into action on 19 May, giving 'enough time' to the accused organization to 'get away with whatever they could.' BOL was presumed to be backed by the Generals HQ during the tenure of the previous CHIEF. It was grapevined after the new CHIEF took over that the previous decision to back BOL was dropped and it was decided that the Generals HQ will set up its own channel if need be. It was also rumoured that Dawood Ibrahim was the financier at someone's behest or in his own discretion. It is next to impossible to find solid evidence to prove or disprove such grapevine stories or rumours. However, it is more than obvious that Axact had absolutely NO resources to set up BOL through earnings from its I.T. business. It wasn't just one channel; there were half a dozen or so channels to be set up under the BOL Network. That was multi-billion dollars network. The contention of Axact's chairman/CEO that the I.T. business earnings were tax-free and, therefore, Axact didn't file the income tax returns in the past doesn't hold ground. It was supposed to file annual income tax return even when its income was tax-free. So, that statement itself casts doubts over the income and its sources. All said and done, I firmly believe that the whole story must be thoroughly investigated and the accused prosecuted and punished if proved guilty, though I have my very serious doubts that it will really happen. That has never been our tradition in the past unless the accused were totally helpless or 'La Waris' people. This whole story might end up like another MemoGate or MamaGate. Let's wait without raising our expectations like the flight of the 'Shaheen.'

Mumtaz A. Piracha

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