Axact funded its channel completely: FBR | Pakistan Press Foundation (PPF)

Paksitan Press Foundtion

Axact funded its channel completely: FBR

Pakistan Press Foundation

ISLAMABAD: Senate Standing Committee on Information Technology and Telecom has been told that Axact has ‘destroyed the country’. It has sold over 200,000 fake degrees and the origin of infamy is New York. It has Rs5 million equity but is paying its anchors Rs8 million.

Its chairman Shoaib Shaikh holds only one share worth Rs10. Presiding over the meeting, Committee Chairman Shahi Syed said one man having Rs10 has jolted the country. FIA DG told the committee that they are exploring link between Bol TV and Axact, adding that success in this regard is afoot.

He said the accused arrested on June 20 will again be presented in the court. It was told in the committee that the issue of cyber crimes will be dealt with in the next meeting. It was also revealed that after Axact, Grand Certification Faisalabad scandal is about to surface, as the company has acquired a stay order. Instead of exporting Rs2.25 billion software, the company has sold guess papers and handbooks worth this amount.

FIA DG Akbar Hoti said that Axact used to do 95 percent of its job in Karachi and 5 percent in Islamabad. He said Axact sold about 200,000 degrees, most of which in the US, Europe and Middle East. He said aspirants to join the US army also bought the degrees and the company was fined Rs2.2 billion. He said the FIA was playing its part to bring the case to its logical end.

He said some former employees of Axact have been accessed and their statements recorded. He said two FIRs have been lodged and challan (charge sheet) will be submitted to the court in days. He said cooperation has been sought from the US and ME and investigation has proved that Axact universities do not exist at all.

He said there is a lot of mess in Islamabad. He said Bol TV has launched its test transmission and it’s speaking against the FIA. He said they are trying to trace links of Bol TV.

SECP said two Pakistani nationals got Axact registered for export of software, showing Rs7.5 million as their total assets, taking benefit of tax exemptions on export of software. It said owners of 25 percent of 66,000 companies registered with it hold only one share. It said Bol TV’s capital share is Rs50,000 and Shoaib Sheikh, Aysha Sheikh, WaqasAtiq and Sarwat Bashir are its directors. Each share of the company is worth Rs10. Shoaib Sheikh holds Rs48,500 shares of Bol Enterprisers while WaqasSarwat and Aysha Sheikh have Rs5000 shares.

Worth of the four companies of the group is Rs1.5 million and worth of their vehicles is Rs2 billion. Action can be taken against Axact after FIA completes charge-sheet against it. SECP does not have the authority to act against Axact.

It said there is disparity in the data of tax furnished to FBR by Axact. It said the companies in Pakistan and Dubai had exchange of resources upon which Senator Rehman Malik told SECP chairman that he should not waste time of the committee. Malik said the chairman is not giving correct information to the committee and he will move a motion in the parliament if lie is told in the meeting.

He said Bol channel was set up with Rs50,000 and propaganda to defame secret agencies was launched when the channel started. Tanveer Malik said no company can do corporate crime alone. He said over Rs800 million came and when they wanted to carry out audit, a stay order was acquired.
He said 1000 audit cases have fallen prey to stay orders and these cases are not heard for two years sometimes. State Minister AnushaRehman questioned what FBR is doing in this regard as a stay order cannot sustain more than one month. She said if a case is not heard for two years, it should be taken to the Supreme Court.

Tanveer Malik said permission of the Finance Ministry is needed if a lawyer’s fee is Rs1 million. The state minister sought help in law making saying that to accept stay orders is a crime. She said institutions would not be able to work if stay orders are issued in audit matters.

Shahi Syed said the committee will assist in law making process, questioning that whetheris the company is bogus or genuine. He said where are FIA and FBR? How a person holding Rs10 share is giving Rs8 million salary and medical allowances to anchors. He said it is not yet known how much tax was charged for the vehicles worth billions of rupees.

Robina Khalid raised the issue of 25 percent central excise duty on mobile phone cards. She said she has been asking about how much amount is submitted to the national exchequer for three years but no one is listening to her.

Tanveer Malik said mobile companies have raised their LDI and it is about Rs4.5 billion only in Islamabad. Shahi Syed sought informed from chairman PTA in this regard in the next meeting.

Tanveer Malik said Axact has gifted Rs20 million software to DHA and they will audit this issue. Shahi Syed said they have sympathies with employees of Bol and it needs to be seen what is difference between Bol and Axact.

FBR officials said Bold is not separated from Axact and it gets 100 percent funding from Axact which is a case of money laundering. Robina Khalid said buyers of fake degrees are also culprits along with Axact.

Software Export Board officials said it is not necessary for IT companies to get registered. KarimKhawaja said the ministry should form a regulatory body while federal secretary Azmat Ali Ranjha said the ministry’s role is limited to policy making. Naseema Ahsan said investigation bodies were sleeping when Axact started working. Robina Khalid was told that mobile phone companies have paid Rs164 billion tax in the previous years.
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