PBATop broadcasters body of the country, Pakistan Broadcasting Association (PBA) has published a detailed report on Axact and Bol Network in the leading newspapers of Pakistan. One page report with the title “The Facts About Bol and Axact” have raised many points on the source of income of so called biggest IT company of Pakistan and funding of Bol Media Group. In the beginning of this report, the whole background of the Axact scandal is stated which had started from the story of The New York Times, which alleged that the organization is actually a mill of fake degrees.

“The company that declared itself ‘3 times larger than any private company of Pakistan, leading IT company of the world and the biggest media group of the country’, Axact has been indicted in a degree-mill scam that has drawn worldwide condemnation and has resulted in creating a very negative image of Pakistan”, the report published by PBA stated.

The report also says that Axact had used stay orders of the courts as a shield for suspicious activities from detection and had never let the governments and investigating agencies to investigate the allegations. According to the report published by PBA in Jang Newspaper, Dunya Newspaper, Nawaiwaqt Newspaper, The News and Express Newspaper, Axact and Bol have taken several stay orders from the courts in the past and never answered the questions raised on their source of income.

The report also stated that the channel has paid capital of less than Rs.7 Crore, however the investigations of FIA have revealed that the monthly salary bill of the channel had reached Rs.36 Crore. Axact Pakistan earnings were less than 20 Crores while the studio and equipment of Bol was estimated to be worth Rs.500 Crore, the report quoted the statistics of SECP.

PBA has also raised a point that the luxurious lifestyle and three to four times more salaries were offered to the employees of Bol News to make their black money white in the name of media group. The broadcasting body stated in the brief report that the employees of Bol Network should ask the management that what are the products of Axact and from where the whole money was coming from?

The report published by PBA concluded that the investigations on the scandal should be free and fair and both the organizations should let the investigating agencies to do their work. However it has been also mentioned once again by PBA that it had already announced that the member organizations would re-hire the employees who are ready to resign from Bol.