ACHIEVEMENTS

  1. Praesidium was part of the team which had won a competitive bidding in 2007/ 2008 from Ministry of Finance to evaluate a world bank funded project worth Rs. 2.5 billion, called the Project to Improve Financial Reporting and Accounting- PIFRA phase 1.
  2. Praesidium was hired in 2008/ 2009 by GOP / NHA for assistance in a case brought by M/S Bayindir Construction Ltd a firm from Turkey before International Centre for Settlement of International Disputes- ICSID against Government of Pakistan claiming damages of US$ 756.0 million related to expulsion from ISB – Peshawar MotorwayM1.  Praesidium provided Forensic Accounting services, assisted NHA/ GOP to coordinate with local and international lawyers, assist high profile witness which included Ex-Ministers, Secretary-General, Secretaries, and Head of Institutions to attend
    the ICSID hearing held in London UK. By the grace of Allah Almighty, Pakistan first time ever in 65 years history, won this case out right at the ICSID. Thus Pakistan saved a potential payment of USD$ 756 million approx Rs. 60 billion. Efforts of the whole team were appreciated by President of Pakistan. Copy of appreciation letter can be presented on request.
  3. Praesidium was also asked to assist in bringing back mobilization advance given to Bayindir. So far we have assisted GOP in bringing back about RS 6.0 billion from Turkey.
  4. Praesidium performed strategic financial review in 2009- 2010 of NLC assets and JVs worth more than Rs. 40.0 billion. Based on our findings GHQ decided to hold various inquiries so did PAC.
  5. Praesidium was hired in 2011 by Mobilink to investigate a fraud perpetrated by Mobilink staff in connivance with franchise owners. We discovered fraud worth hundreds of millions of rupees, identified culprits and fixed responsibilities. Praesidium is assisting Mobilink as an expert witness in the court of law to prosecute the culprits. Recent media reports have all the stories in public.
  6. Praesidium was hired again by NLC, GHQ in 2012 to perform Forensic Audit and fix responsibilities of wrongdoings. Based on Praesidium Report Court Martial of various Army personnel was ordered. Recent press reports are evident.
  7. Daewoo Pakistan Motorway Ltd was given a lease for Islamabad- Lahore Motorway- M2 service areas on Built Operate and Transfer –BOT basis for 15 years in Nov 1997. Daewoo was to vacate M2 in 2012. Daewoo approached Arbitration in Singapore. NHA has hired Praesidium to Forensically review Daewoo Financial Statements and assist NHA in highlighting before the sole arbitrator if Daewoo Financial statements have any discrepancies.
  8. Praesidium was part of a team which assisted Pakistan to make history when first time in 65 years Government of Pakistan successfully defended a claim brought against it by a foreign firm. Again history was made in Pakistan when GHQ ordered court martial of retired Generals.

Appearing as the expert witness before Courts

 We have ample experience of appearing before international as well as local courts as the expert witness.