September 09, 2016
ISLAMABAD – Shoaib Ahmed Shaikh, CEO of BOL Media Group Friday announced that all ‘BOLwalas’ of Pakistan, including officers and other staff, would be paid their outstanding dues with interest.
“The resilience and determination of BOLwalas during this period of turmoil has been exemplary and is worthy of great appreciation,” Shaikh said in a statement to staff, their families stakeholders and well-wishers.
It is widely believed that BOL Media Group was targeted by the authorities and the big leaguers of Pakistani media just when it was about to take off and therefore could never go on air.
Shaikh, was arrested in May 2015 after a New York Times story claimed his software company Axact which he also heads, was involved in selling fake degrees and diplomas to students.
He was released from a Karachi jail on September 2 after 15 months.
“The 15-month long period of atrocities and injustice, which was the consequence of the tragic Saniha-e-Axact, has evidently come to an end,” Shaikh said.
“With the relentless efforts and prayers of all the BOLwalas, their families, our stakeholders and all our well-wishers, the darkness of malice has been dispelled by the dawn of truth and we are now stepping forward towards our destination, stronger than ever.”
He also announced clearing all dues with interest of vendors and associates of BOL, who displayed patience throughout the time of distress.
Only a day after being released from custody, Shaikh had announced paying 15-month salaries to Axact staff in Pakistan – the entire period for which the company remained illegally shut.
From now on, he said everything would be “more than before” for BOLwalas – even more salaries, benefits, facilities, employment, sales, and business etc.
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A study conducted by JournalismPakistan.com and Communications Research Strategies on the economic situation of slain journalists' families and journalists displaced due to security threats.