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CEO Axact Shoaib Shaikh denies selling real, fake degrees worldwide

ISLAMABAD/KARACHI: CEO Axact Shoaib Ahmed Shaikh on Wednesday denied all the allegations against his company based on a New York Times (NYT) story and said that Axact only sells online education platforms, ARY News reported.

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In an exclusive interview with Kashif Abbasi, Shoaib Ahmed Shaikh said, “Axact is not authorized to issue degrees, nor it has issued any”.

Axact issued neither real nor fake degrees… by arynews
“We provide online education platforms to educational institutes worldwide – both registered and unregistered – while it is the responsibility of the customers to check the accreditation of those institutes,” he said.

“Axact designs online education software which includes modules for teachers and students,” explained the CEO Axact.

Axact Karachi office

When asked how much turnover his company has, Shoaib replied his company has a worth of over $ 20 billion.

He slammed that a reporter, who was expelled from Pakistan over undesirable activities, leveled charges against us without any mention of evidences in his story.


Read: Minister says 42 servers seized from Axact, forensic audit could take a month


He said that ‘we have previously been accused of having the backing of some institution, but this entire episode has proven that there is no one behind us’.

In response to a question about taxes paid by him, Shaikh said that the Federal Board of Revenue (FBR) continued auditing his company for two years, since the launch of BOL was announced and there was nothing wrong found about it.

He added that IT services are tax-free in Pakistan.



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