Public Alert: IMS ELECTRIC (Pvt) Ltd & Mr. Mahmoud Haq - A Case of Bad Faith and Broken Promises on Supplier Payments
To Whom It May Concern,
This public disclosure is issued by a supplier from Kunshan, Jiangsu, China, regarding a long-standing and unresolved debt issue with IMS ELECTRIC (PRIVATE) LIMITED of Pakistan.
We supplied goods to IMS ELECTRIC (PRIVATE) LIMITED in good faith during the period when the company was owned and managed by Haq Holdings (Pvt) Limited, with Mr. Mahmoud Haq as the principal and Mr. Aslam Virani as the General Manager.
To our profound disappointment, a payment of over USD 40,000 for these delivered goods has been delinquent for nearly two years. Throughout this period, we received multiple email assurances from the management of Haq Holdings, promising to settle the payment. However, these promises have proven to be empty.
The situation has taken a turn for the worse following the acquisition of IMS ELECTRIC by Mr. Danish Ghous and Mr. Syed Jawad Bin Saghir in July 2025. Subsequent to this transfer, which was approved by The Competition Commission of Pakistan (CCP), the previous owners and responsible parties, Mr. Mahmoud Haq and his team, have completely ceased communication, ignoring all our attempts to contact them and honor their commitments.
This behavior is a clear act of bad faith and a gross violation of business ethics. It has caused significant financial strain and disappointment to our company.
We hereby publicly condemn the unethical business practices of IMS ELECTRIC (PRIVATE) LIMITED under its previous ownership of Haq Holdings, and specifically the irresponsible conduct of Mr. Mahmoud Haq.
We issue this alert to the international business community: Exercise extreme caution when dealing with the aforementioned entities and individuals. Their failure to honor a legitimate supplier debt poses a serious credit and reputational risk.
We hope that public exposure will pressure the relevant parties to fulfill their financial obligations and prevent other companies from falling victim to similar situations.