Private fairness company AsiaPak Investments stated on Monday that it has received Bol Network media crew, in line with an reputable remark.
AsiaPak Investments is an funding corporate with workplaces in Karachi, Lahore, and, Islamabad. It invests handiest in Pakistan; its sectors come with infrastructure, power, energy, delivery, logistics, and, generation.
Sameer Chishty, newly put in Chairman and CEO of Bol Network, is a seasoned world generation investor in Asia and the Middle East.
“Amazing progress is being made globally in digital technologies, artificial intelligence, and, telecommunications. Impact is being felt across the entire media ecosystem, including content creation, news, entertainment, gaming, music, education, communication, and, community,” he stated.
“As a General Partner at SparkLabs Group investing in over 500 technology companies in China, Korea, Saudi Arabia, and other countries, I have seen first-hand the potential these technologies have in changing lives, transforming societies, and growing economies. And these are exactly the kinds of opportunities that must be made available for all Pakistanis.”
Read extra: ‘Fake degree empire’ collapses, Axact CEO nailed
He stated that the brand new Bol Network guarantees robust techniques of producing and distributing content material so all can educate and be told. “We will empower users to engage their communities on issues important to them,” he added.
In March, the Federal Investigation Agency (FIA) arrested earlier CEO of Bol Network Shoaib Ahmed Shaikh from the Islamabad airport on fees of bribing a former classes pass judgement on for his acquittal within the pretend levels case.
Shoaib Shaikh used to be arrested in a while after he landed in Islamabad on a flight from Karachi.
The former leader government of Bol TV used to be charged with bribing Additional District and Sessions Judge (ADSJ) Pervez-ul-Qadir Memon to get a beneficial verdict within the Axact pretend levels case.
In 2017, the ADSJ had admitted sooner than the Islamabad High Court that he had won Rs5 million to acquit the Axact CEO.
The FIA had up to now arrested the Axact CEO in 2015 after investigators discovered masses of hundreds of cast levels and scholars ID playing cards from a secret administrative center of the corporate in Karachi.
Television pictures from the 2015 FIA raid at the Axact workplaces in Karachi confirmed piles of stage templates from other universities in rooms on the development.
A New York Times record that exposed that Axact used to be operating a world, multimillion-dollar pretend degree empire from the name of the game administrative center.
A multi-million cash laundering case used to be additionally registered towards Shaikh and the Axact control, however the leader government used to be later acquitted via the now-disgraced pass judgement on Pervez-ul-Qadir Memon.