Pak News Official
MPA (400+ posts)
When CEO and Chairman of Axact/BOL, Mr. Shoaib Ahmed Sheikh was freed from imprisonment, he spoke to his employees in which he promised many things to them for being loyal to the company for the fifteen months. One of the things he promised was that he will provide state-of-the-art housing for his employees, as well. So in respect of this promise, has BOL acquired Bahria Town?
Few days ago, a rumor was spreading that Bahria Town's owner Mr. Malik Riaz has acquired BOL. The rumor was initiated by a Blog called Siasat Pakistan PK in which it was specified that Malik Riaz in collaboration with the son of Ex Chief Justice stated that he will open his own TV channel. Now giving this logic to validate BOL's acquisition is totally bizarre, this is very much similar to hypothetical situation where an employee who is angry of the owner/boss says that one day I will buy his company.
Or let's take it this way, even if the report is authentic, but in today's weak journalism era of Dawn/Jung; suppose if the writer mistakenly flipped BOL instead of Bahria Town. This is very much probable because the owner of Bahria Town is not capable of buying BOL but yes BOL is definitely capable of buying Bahria Town. This is because BOL's owner provided 15 months salary to its employee even though the company was not operating while housing for employees was promised as well. So may be at that time, Shoaib Shaikh must have thought about acquiring Bahria Town and provide houses there to his employees.
Another aspect of the rumor was that Malik Riaz purchased BOL in just 83 crore rupees, however, BOL spends so much on salaries and lifestyle of its employees, acquiring in just this amount is definitely not possible. This amount must be the expense of BOL for just one month.
Few days ago, a rumor was spreading that Bahria Town's owner Mr. Malik Riaz has acquired BOL. The rumor was initiated by a Blog called Siasat Pakistan PK in which it was specified that Malik Riaz in collaboration with the son of Ex Chief Justice stated that he will open his own TV channel. Now giving this logic to validate BOL's acquisition is totally bizarre, this is very much similar to hypothetical situation where an employee who is angry of the owner/boss says that one day I will buy his company.
Or let's take it this way, even if the report is authentic, but in today's weak journalism era of Dawn/Jung; suppose if the writer mistakenly flipped BOL instead of Bahria Town. This is very much probable because the owner of Bahria Town is not capable of buying BOL but yes BOL is definitely capable of buying Bahria Town. This is because BOL's owner provided 15 months salary to its employee even though the company was not operating while housing for employees was promised as well. So may be at that time, Shoaib Shaikh must have thought about acquiring Bahria Town and provide houses there to his employees.
Another aspect of the rumor was that Malik Riaz purchased BOL in just 83 crore rupees, however, BOL spends so much on salaries and lifestyle of its employees, acquiring in just this amount is definitely not possible. This amount must be the expense of BOL for just one month.
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