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What is the "Evidence" of "Corruption" Against Retired General Asim Saleem Bajwa?

RiazHaq

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Pakistani reporter Ahmad Noorani has alleged that CPEC Authority Chairman Asim Bajwa's wife Farrukh Zeba is a shareholder in Bajwa family business. The reporter further alleges that the value of these holdings has been under-reported by General Asim Bajwa in his declaration of assets that he made recently in his position as Special Assistant to the Prime Minister (SAPM). What Bajwa family business is Mr. Noorani referring to? It is Bajco, a business that Asim Bajwa's brother Nadeem Bajwa built in the United States. Noorani has made multiple allegations of corruption against CPEC Authority Chairman Asim Bajwa. Of these allegations, the only one that may require further investigation is that General Asim Bajwa may have deliberately understated the value of his wife Farrukh Zeba's shares in Bajco, a company built by Asim Bajwa's brother Nadeem Bajwa who is a self-made millionaire. Undervaluing assets is the kind of allegation that many apply to many Pakistani politicians, judges, bureaucrats and others who are required by law to disclose their assets.

General Asim Bajwa's Wife's Shareholdings



Evidence Cited:

Ahmad Noorani has cited a document signed by Asim Bajwa's brothers and his wife as proof of ownership by Mrs. Asim Bajwa. They have also shared General Asim Bajwa's declaration of assets which clearly says "shares in family business" held "in wife's name" and values them at Rs. 3.1 million. Noorani says the value of shares is significantly understated. Noorani also alleges that "(T)he growth of the Bajwa family’s business empire in the United States and later in Pakistan directly matches the rise in power of retired general Asim Saleem Bajwa, who is now chairman of the country’s massive China-financed infrastructure project and a special assistant to the prime minister". Noorani implies that Nadeem Bajwa's success is built on his brother Asim Bajwa's corrupt earnings.

General Asim Bajwa's Declaration of Assets


Who is Nadeem Bajwa?

Nadeem Bajwa is General Saleem Bajwa's younger brother. While it is true that Nadeem Bajwa owns a large Papa Johns' franchise business in the United States, there is nothing to support the allegation that this business has been built with funds stolen and remitted from Pakistan. Nadeem Bajwa is a self-made millionaire. His story is, in fact, typical of many successful Pakistani immigrants who have worked hard to achieve entrepreneurial success in America. The best example of a Pakistani immigrant's franchise success story is that of Shoukat Dhanani whose Dhanani Group's annual revenue is over $2 billion, according to Forbes magazine. Other examples of Pakistani immigrant multi-restaurant franchise success stories include Aziz Hashim, Aslam Khan, Tabassum Mumtaz, Ali Butt, and many more. Most of them started as drivers, cooks or cashiers and then bought and built up their franchise successes.

Nadeem Bajwa's Success Story:

Nadeem Bajwa came to the United States as a student in 1991. He took a job as a pizza delivery driver for Domino's while going to college in Indiana. “The delivery driver job was one of the easiest when going to school,” Bajwa told Nation's Restaurant News in 2014. “There wasn’t a lot of stress or pressures and other students were doing it. I heard they made good pay, and every day you just deliver pizzas and make decent tips.”

In 1994, Bajwa took a job with Papa John’s as a driver, was quickly promoted to general manager and then operating partner within 10 months — all while continuing his education. “I was busy, and then when I got promoted I was still finishing up school,” he said. “But when you have goals in mind, you just keep going. Sometimes anxiety isn’t such a bad thing.” Bajwa signed his first franchise in 2002 and then grew his business from there.

Summary:

Pakistani reporter Ahmad Noorani has made multiple allegations of corruption against CPEC Authority Chairman Asim Bajwa. Of these allegations, the only one that may require further investigation is that General Asim Bajwa may have deliberately understated the value of his wife Farrukh Zeba's shares in Bajco, a company built by Asim Bajwa's brother Nadeem Bajwa who is a self-made millionaire. Undervaluing assets is the kind of allegation that may apply to many Pakistani politicians, judges, bureaucrats and others who are required by law to disclose their assets. Nadeem Bajwa started in a low-level job in a pizza restaurant and worked his way up. His story is a typical immigrant success story like many other immigrant success stories in America. Other examples of Pakistani immigrant multi-restaurant franchise success stories include Aziz Hashim, Aslam Khan, Tabassum Mumtaz, Ali Butt, and many more. Most of them started as drivers, cooks or cashiers and then bought and built up their franchise successes.

Related Links:

Haq's Musings

South Asia Investor Review

Did Musharraf Steal Public Money?

Pakistani Leaders in London After Panama Leaks

Edible Arrangements: A Pakistani-American Franchisor's Success Story

Culture of Corruption in Pakistan

Zardari Corruption Probe

President Pervez Musharraf's Legacy

We Hang Petty Thieves and Appoint Great Ones to High Offices

Capitalism's Achilles Heel by Raymond Baker

Nawaz Sharif's Report Card

Riaz Haq's Youtube Channel

PakAlumni Social Network


 

RiazHaq

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It took 18 years of sweat equity for Bajwa brothers in America to build the asset value of $69 million. Franchise restaurants and other assets were acquired by Bajco over this period a few at a time, each with 10-20% down and the rest coming as loans from financial institutions. That's how other Pakistani immigrants did it. Google the names Shoukat Dhanani, Aslam Khan, Tabassum Mumtaz, Aziz Hashim, Ali Butt and others to see how they built up their franchise businesses.

 

nahtanbob

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Pakistani reporter Ahmad Noorani has alleged that CPEC Authority Chairman Asim Bajwa's wife Farrukh Zeba is a shareholder in Bajwa family business. The reporter further alleges that the value of these holdings has been under-reported by General Asim Bajwa in his declaration of assets that he made recently in his position as Special Assistant to the Prime Minister (SAPM). What Bajwa family business is Mr. Noorani referring to? It is Bajco, a business that Asim Bajwa's brother Nadeem Bajwa built in the United States. Noorani has made multiple allegations of corruption against CPEC Authority Chairman Asim Bajwa. Of these allegations, the only one that may require further investigation is that General Asim Bajwa may have deliberately understated the value of his wife Farrukh Zeba's shares in Bajco, a company built by Asim Bajwa's brother Nadeem Bajwa who is a self-made millionaire. Undervaluing assets is the kind of allegation that many apply to many Pakistani politicians, judges, bureaucrats and others who are required by law to disclose their assets.

General Asim Bajwa's Wife's Shareholdings




Evidence Cited:

Ahmad Noorani has cited a document signed by Asim Bajwa's brothers and his wife as proof of ownership by Mrs. Asim Bajwa. They have also shared General Asim Bajwa's declaration of assets which clearly says "shares in family business" held "in wife's name" and values them at Rs. 3.1 million. Noorani says the value of shares is significantly understated. Noorani also alleges that "(T)he growth of the Bajwa family’s business empire in the United States and later in Pakistan directly matches the rise in power of retired general Asim Saleem Bajwa, who is now chairman of the country’s massive China-financed infrastructure project and a special assistant to the prime minister". Noorani implies that Nadeem Bajwa's success is built on his brother Asim Bajwa's corrupt earnings.

General Asim Bajwa's Declaration of Assets



Who is Nadeem Bajwa?

Nadeem Bajwa is General Saleem Bajwa's younger brother. While it is true that Nadeem Bajwa owns a large Papa Johns' franchise business in the United States, there is nothing to support the allegation that this business has been built with funds stolen and remitted from Pakistan. Nadeem Bajwa is a self-made millionaire. His story is, in fact, typical of many successful Pakistani immigrants who have worked hard to achieve entrepreneurial success in America. The best example of a Pakistani immigrant's franchise success story is that of Shoukat Dhanani whose Dhanani Group's annual revenue is over $2 billion, according to Forbes magazine. Other examples of Pakistani immigrant multi-restaurant franchise success stories include Aziz Hashim, Aslam Khan, Tabassum Mumtaz, Ali Butt, and many more. Most of them started as drivers, cooks or cashiers and then bought and built up their franchise successes.

Nadeem Bajwa's Success Story:

Nadeem Bajwa came to the United States as a student in 1991. He took a job as a pizza delivery driver for Domino's while going to college in Indiana. “The delivery driver job was one of the easiest when going to school,” Bajwa told Nation's Restaurant News in 2014. “There wasn’t a lot of stress or pressures and other students were doing it. I heard they made good pay, and every day you just deliver pizzas and make decent tips.”

In 1994, Bajwa took a job with Papa John’s as a driver, was quickly promoted to general manager and then operating partner within 10 months — all while continuing his education. “I was busy, and then when I got promoted I was still finishing up school,” he said. “But when you have goals in mind, you just keep going. Sometimes anxiety isn’t such a bad thing.” Bajwa signed his first franchise in 2002 and then grew his business from there.

Summary:

Pakistani reporter Ahmad Noorani has made multiple allegations of corruption against CPEC Authority Chairman Asim Bajwa. Of these allegations, the only one that may require further investigation is that General Asim Bajwa may have deliberately understated the value of his wife Farrukh Zeba's shares in Bajco, a company built by Asim Bajwa's brother Nadeem Bajwa who is a self-made millionaire. Undervaluing assets is the kind of allegation that may apply to many Pakistani politicians, judges, bureaucrats and others who are required by law to disclose their assets. Nadeem Bajwa started in a low-level job in a pizza restaurant and worked his way up. His story is a typical immigrant success story like many other immigrant success stories in America. Other examples of Pakistani immigrant multi-restaurant franchise success stories include Aziz Hashim, Aslam Khan, Tabassum Mumtaz, Ali Butt, and many more. Most of them started as drivers, cooks or cashiers and then bought and built up their franchise successes.

Related Links:

Haq's Musings

South Asia Investor Review

Did Musharraf Steal Public Money?

Pakistani Leaders in London After Panama Leaks

Edible Arrangements: A Pakistani-American Franchisor's Success Story

Culture of Corruption in Pakistan

Zardari Corruption Probe

President Pervez Musharraf's Legacy

We Hang Petty Thieves and Appoint Great Ones to High Offices

Capitalism's Achilles Heel by Raymond Baker

Nawaz Sharif's Report Card

Riaz Haq's Youtube Channel

PakAlumni Social Network


This is classic misinformation
"Shoukat Dhanani whose Dhanani Group's annual revenue is over $2 billion, according to Forbes magazine. "

$2 billion is sales. The profit margins are low for fast food franchises. What is the profitability of the group ?

What is the debt level of the group ? (if it exists or how much it is)
 

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