ISLAMABAD/LAHORE: In an email sent to Indus News employees, the management stated that the channel would close down temporarily for a period of two months, citing “unavoidable legal and technical issues.”
The channel is owned by billionaire property mogul, Malik Riaz Hussain who also owns Bahria Town, one of Pakistan’s largest private housing company.
Last year, a similar email was sent to Aap News employees after which they were terminated.
Sources revealed to The Pakistan Daily that Malik Riaz’s investment in media could not bear fruit due to constant conflicts in the management.
Senior journalist Aftab Iqbal was chosen to lead the channel however, insiders from Aap News claimed that Iqbal hired his own family members and close associates in the channel while not taking directions from Malik Riaz and his family, causing multiple conflicts.
Employees from Aap News and Indus News mention frequent loud arguments between the owners and management which often led to the disruption of work.
The latest temporary closure of Indus News, the English news channel owned by Malik Riaz comes at a time when journalists are protesting against the proposed Pakistan Media Development Authority (PMDA) ordinance.
There have been speculations that Indus News was incurring losses month after month and was not proving to be a sustainable business model despite the efforts of the management.
Earlier, Malik Riaz’s investment banking career was also put to an abrupt end after he put Escorts Investments Bank for sale.