December 30, 2024
TRG continues to languish in the shadow of Chishti’s tug-of-war
Once reputed as a clean, safe, stable bet on the stock market, the management of TRG is drawing up its defences in the face of another attack
December 30, 2024
The fortune of TRG Pakistan has been nothing short of astounding. Once the darling of stock market investors, the company’s financial performance has been suffering from a constant tug-of-war for control of the company.
The saga has unfolded in the wake of the exit of Ziaullah Khan Chishti, the Pakistani-American founder who created TRG and Afiniti. Mr Chishti was ousted from TRG Pakistan as well as his company in the United States in the wake of accusations of sexual assault levelled against him by a former employee. And while his position in TRG has been displaced, his influence continues to inform the power-struggle that has become a persistent problem for the company.
The constant volatility and turmoil at the company is being reflected in its financial performance as well. Where will this saga end and who will come out on top? All that can be said for now is that the trenches are being dug and the war is expected to go on for the long haul.
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Zain is a business journalist at Profit, and can be reached at [email protected]
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