IK involved in money laundering: Kh Asif

Society Pakistan & World Affairs
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Re: IK involved in money laundering: Kh Asif

Khawaja Asif has raised some very valid questions..

  1. First of all there is no allegation of corruption on IK from SKMH funds.

  2. SKMH is a charity organization being run on public funding. The management is answerable to the mistakes and serious flaws in how they are managing this public trust.

  3. Endowment fund of SKMH is managed by board of Governors of SKMH. It is absolutely inappropriate to invest these funds in the personal ventures of one of the members of this Board. There is no question about the conflict of interest here. I heard all the explanation from IK and other PTI members yesterday. They have not been able to answer this point satisfactorily.

  4. There is a serious question mark on the selection of these board members. I don’t think the board members can be selected without the approval of IK and an investment of 4.5 million dollars could be made without his approval. There is a serious question about IK’s management capabilities and his choice of people.

  5. Investment of 4.5 million dollars in an offshore company engaged in property speculation just on the personal guarantee of the owner of this business is no way the best way to invest the funds of a public trust.

I think a serious judgmental mistake has been committed by IK and the board of management of SKMH. They must admit this mistake and for future ensure systems to avoid these short coming. They must revisit the selection process for the board of governors and refrain from making speculative investments in dubious companies belonging to the board members from the endowment funds.

IK’s handling of this crisis will determine his capability to manage things as a leader of Pakistan. If his ego does not permit him to admit his mistake and his resolve and commitment to fix his house in order is absent.. it will raise a serious question on his capability to handle-manage the country as a leader..!!!