The Hub Power Company Limited (PSX: HUBC or Hubco) has denied false claims coming out of India that it made payments to Indian Prime Minister Narendra Modhi’s Bharatiya Janata Party (BJP).
The company said, it is being mistakenly identified as and connected to the recent inquiry in India about electoral bonds, which includes an Indian firm called Hub Power Company.
“We would like to categorically state that we are not affiliated with the company named in this matter or any other company based in India. The payments which are being highlighted on the media has no connection whatsoever with HUBCO,” it clarified.
Hubco added that any payments it makes outside Pakistan are processed after obtaining the necessary approvals by the State Bank of Pakistan (SBP) against SBP-registered contracts.
The company urged all to verify the facts before publishing any content that may result in spreading misinformation.
This comes after Indian social media claimed a Pakistan-based company donated electoral bonds to Indian political parties.
An Indian X user said Pakistan’s Hubco paid BJP and Congress millions in connection to an attack on the Indian armed forces in occupied territories of Jammu and Kashmir.
SHOCKING EXPOSE 🚨
Pakistan based company, Hub Power Company, donated Electoral Bonds weeks after the Pulwama attack!
When the entire country was mourning the loss of 40 brave soldiers, someone was enjoying funding from Pakistan.
Now you know why no proper investigation of… pic.twitter.com/kidVmXYS6L
— Ankit Mayank (@mr_mayank) March 14, 2024
HUBC has denied this claim.
