Imran Khan lied about Faisal Subhan; CSRC & Govt of Punjab


CSRC never came to Pakistan to investigate Multan Metro case; hence Imran Khan’s claim of Faisal Subhan’s interview proved to be false

Imran Khan has once again fell victim to his own lies as China Securities Regulatory Commission had already declared allegations of Yabaite false and after thorough investigation, it was officially announced SECP’s Chinese Counterpart CSRC that Yabaite wasn’t associated with any individual or any company in Pakistan, it used unfair means and shared forged documents to prove its money trail which was questioned in 2015 in China.
The China Securities Regulatory Commission (CSRC), who has been working vigilantly against corruption, as the current Chinese President Xi Jinping is also very critical about it. They took immediate notice that how Yabeite got this amount since the matter looked extremely suspicious to them. In reply, Yabeite claimed that we earned it through our working on Phase-III of the Multan Metro Bus Project through its partner “M/s Capital Engineering and Construction Pvt Ltd.”

In response to this, the CSRC on 16th December, 2016, wrote a letter to the Securities and Exchange Commission of Pakistan (SECP) to ask whether Yabeite actually worked in Multan Metro Bus Project or not. The then Chairman of the SECP, Zafarul Haq Hijazi, to make further confirmation on it, wrote a letter to the Chief Secretary Punjab on 13th February, 2017, asking about Yabaite’s involvement in Multan Metro Bus Project.

After the initial findings of SECP sent to the CSRC, the Chinese regulator again questioned Yabaite. This time the Yabaite, in order to prove its claim, made a fake letter and gave it CSRC that the Chief Minister of Punjab has appreciated them for their work in the Multan Metro Bus Project, which CSRC forwarded it to SECP for checking its validity.

The SECP once again forwarded this letter to the Chief Secretary Punjab on 15th August, 2017, asking credibility of it. The Chief Secretary Punjab in their reply to the SECP on 16th August, 2017, categorically denied this letter, calling it as totally fake. The reply from the Chief Secretary Punjab clearly mentioned that the letter has a forged serial number printed on it, as there is no record available of it. Then, the format of this letter is also completely wrong to what is being used in the Chief Minister office.

Further, the Chief Secretary Punjab on 17th August, 2017, wrote another letter to the SECP, offering support to investigate it on priority basis. The SECP in the next step forwarded all the letters with complete details of this case to CSRC.

Moreover, the SECP on 30th August, 2017, issued a press release confirming that no team from CSRC came to Pakistan for the investigation of the Multan Metro Bus Project, which proves Imran Khan wrong once again about his claim that CSRC came to interview Faisal Subhan. In the same press release, SECP made absolutely clear that “M/s Capital Engineering and Construction Pvt Ltd,” is not registered in the SECP nor Pakistan Engineering Council (PEC). Also, SECP visited the office address given by Yabaite to CSRC of the “M/s Capital Engineering and Construction Pvt Ltd,” which also turned out to be fake as no office of the company existed there.

Finally, on 15th December, 2017, CSRC concluded there investigation, and found that Yabaite made baseless and false claims about their involvement in the Multan Metro Bus Project. Yabaite was eventually blacklisted by CSRC, and was imposed with heavy penalties as well. The official copy of this press release is also present on CSRC website.

Subsequently, the Yabaite’s President on 17th December, 2017, confessed their role in forgery, and accepted all the allegations mentioned in conclusion of CSRC investigation. Yabaite also made public apology on this whole case, which they also published on their website.1

Lijian Zhao, the Deputy Chief of Mission, Chinese Embassy in Pakistan, also made a series of tweets on the decision of CSRC.

Recently, on 28th February, 2018, SECP gave complete briefing to the Senate Panel about this whole case, the complete coverage of which is also present in the newspapers of 2nd March, 2018.

Meanwhile, the two persons Sheikh Aijaz Asghar and Salman Iqbal, who fabricated Chief Minister Punjab’s letter were also caught by the Police, and the FIR on both of them is registered at Liaquatabad Police Station, Lahore.

With all these facts in perfect sequence, it is very simple to understand who actually is right and who actually is wrong.

Share this post

    scroll to top