Ex-CFO Pakistan Expo Centres Rejects Allegations Against Him by CEO As Baseless

Chief Financial Officer Pakistan Expo Centres Zia ul Mustafa has rejected the allegations raised against him by CEO Mariam Khawar as baseless and misleading. He told ProPakistani that he is not under investigation by any agency. The CFO clarified that his termination from the organization was illegal and carried out without proper jurisdiction, violating the legal procedures required for such actions. In response to this unlawful termination, he sought legal recourse, and the Lahore High Court granted a status quo order, preserving his position until the conclusion of the legal proceedings. According to the CFO, the court decision highlights the improper nature of Khawar’s actions, which she failed to mention in her statement. Additionally, Zia explained that he had submitted the matter to the Board of Directors, the Ministry of Commerce, and the Prime Minister’s Office supported by evidence, to present a clear account of the governance issues and financial mismanagement under Khawar’s leadership. The CFO pointed out that Khawar had failed to address several key issues such as why Rs. 1.2 billion allocated for essential projects, had been surrendered or returned without utilization, while an additional Rs. 700 million in development funds had been misused. Furthermore, Khawar did not respond to concerns raised in the media about Pakistan Expo Centres’ financial losses exceeding Rs. 500 million, during which time her salary was significantly increased from Rs. 900,000 to Rs. 2.3 million per month, including employer-paid tax benefits. It was also not denied that over the past two years, she had received bonuses and benefits amounting to more than Rs. 12.5 million. He said that these financial matters, in the absence of a CFO, raised serious concerns about the misuse of public funds, especially given the organization’s financial distress. Zia apprised that the Pakistan Expo Centres has been doing its operations on a self-sustaining basis since its inception in 2010 and this fact is mentioned in all annual reports published every year. He further added that the privatization of the expo centres had been in discussion for a while and dropped every time due to its complex model as the Expo Land is the property of Provincial Governments and the Company just owned the infrastructure of Lahore and in the other two cities Expo facilities are under construction so it’s privatization doesn’t make any sense at this stage. The ex-CFO said that Khawar’s claims regarding the expo centres’ situation had surfaced just weeks before the expiration of her employment contract, which is set to end on September 23, 2024, raising questions about the timing and motives behind her recent actions. Zia expressed his commitment to pursuing legal action and ensuring that the facts regarding the governance and financial challenges at Pakistan Expo Centres are made clear to all stakeholders. He reiterated that the Board of Directors and relevant authorities had been informed of the full details and supporting evidence and expressed confidence that appropriate measures would be taken to address these issues.