Karachi, October 12, 2023 – TRG Pakistan Limited has issued a strong response to a recent malicious media campaign against the company, emphasizing the need for stakeholders to rely on official information and refrain from being influenced by misleading, false, and defamatory assertions made by its former CEO, Zia Chishti.
In a communication submitted to the Pakistan Stock Exchange (PSX), TRG Pakistan Limited expressed its serious concern regarding the ongoing campaign, which has been amplifying allegations previously made by Chishti in paid advertisements in the press. The company has noted that some of these articles have been replicated across multiple online media platforms, effectively recycling these advertisements in various forms.
TRG Pakistan Limited believes that this campaign is part of an ongoing, malicious, and ill-intentioned effort led by Chishti, his associates, and individuals acting in concert with him. The objective appears to be discrediting the company’s current management and certain directors, influencing the company’s affairs, and potentially attempting an unlawful takeover of the company.
As a point of reference, Zia Chishti resigned from his position in November 2021 following sworn public testimony in the U.S. Congress by a former employee of Afiniti. This testimony disclosed that Chishti had been found liable in a U.S. arbitration for sexual harassment and assault.
The company reaffirms its commitment to safeguarding the interests of its public shareholders and stakeholders. It is determined to ensure that its former CEO does not cause any harm to the company’s assets by unlawfully seizing control or attempting to associate with the company, actions that TRG Pakistan Limited believes could diminish the value of its underlying assets.
TRG Pakistan Limited, therefore, urges its public shareholders and stakeholders to place their trust only in information disseminated by the company through official channels. They are encouraged not to be swayed by the ongoing malicious smear campaign targeting the company, its management, and certain directors, orchestrated by its former CEO, his associates, and others acting in concert with them.
This statement serves as a firm response to the campaign and underscores the company’s dedication to ensuring the accuracy and integrity of information concerning its operations and leadership. It emphasizes the importance of transparency and reliance on official communications to maintain the trust and confidence of its stakeholders.
