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ISLAMABAD: Locking horns with the PML-N government in the National Assembly on Friday, opposition members demanded a “forensic audit by a reputable international firm” into revelations made regarding the Sharif family’s offshore accounts in the Panama data leaks.
Pakistan Tehreek-i-Insaf (PTI) leader Shah Mahmood Qureshi said the government’s explanations regarding the leaks were not satisfactory and reiterated his party’s call for the Chief Justice of Pakistan to head a judicial commission probing the leaks.
He also demanded that the results of the judicial commission be made public.
Read: Imran demands judicial commission under chief justice to probe Panama Papers
Qureshi said an international forensic audit firm should be hired to probe the Sharifs, adding that the National Accountability Bureau, the State Bank of Pakistan, the Election Commission of Pakistan and the Federal Board of Revenue should also take action in this regard.
He said it would not be appropriate to target only Prime Minister Nawaz Sharif and his family regarding the leaks, as the Panama Papers also include names of several other prominent Pakistanis, including politicians.
PPP MNA Shazia Marri lamented that the Supreme Court had not taken a suo motu notice on the matter and said Parliament should be informed of where the money that was stashed into offshore companies came from.
She also questioned whether or not the transfer of these funds was restricted by money laundering legislation.
Marri also agreed with the idea of a forensic audit of the Sharif family’s offshore holdings and said it would be prudent if “Prime Minister Nawaz Sharif stepped down from his post until the probe into the leaks was completed.”
Information Minister Pervaiz Rashid hit out at the opposition, saying that having an offshore firm did not mean the family was involved in illegal practices or that these firms had caused losses to Pakistan’s economy.
Rashid said PTI chief Imran Khan should present a document showing “where the funds for Shaukat Khanum Memorial Hospital went” and also accused the PTI of “misusing” the funds set aside for the Khyber Pakhtunkhwa Billion Tree Tsunami project as chants of “Go Nawaz Go” echoed the assembly floor.
Minister of State for Parliamentary Affairs Sheikh Aftab Ahmad termed the Panama Papers an “adverse campaign” initiated at an international level in order to create obstacles in Pakistan's progress, Radio Pakistan reported.
The minister claimed that 'some forces' that do not want completion of the Gwadar Port and other infrastructural projects launched by the PML-N government had resorted to such antics.
Panama leaks revelations
An investigation published April 3 by an international coalition of more than 100 media outlets ─ based on 11.5 million records and 2.6 terabytes of information drawn from the internal database of Panamaian law firm Mossack Fonseca ─ details how politicians, celebrities and other famous people use banks, law firms and offshore shell companies to hide their assets.
Read more: ‘Panama Papers’ reveal Sharif family’s ‘offshore holdings’
According to documents available on the ICIJ website, the Prime Minister Nawaz Sharif's children Maryam, Hasan and Hussain "were owners or had the right to authorise transactions for several companies".
The data leak revealed the financial wheelings and dealings of over 200 Pakistanis, including the late Benazir Bhutto, Rehman Malik and other prominent politicians and businessmen.
Nawaz Sharif, in an address to the nation on Tuesday evening announced the constitution of a high-level judicial commission to probe his family for wrongdoing, after the leak revealed his children owned offshore holdings.
Explore: PM orders judicial commission to probe his family after Panama data leak
Read more
On DawnNews
Comments (62) Closed
Apr 08, 2016 04:46pm
All the big shots from PML(N) and PPP, plus heads of all ministries and big departments are involved in corruption.
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Apr 08, 2016 04:51pm
PM's don't not step down in Pakistan. Their children get ready for the seat instaead
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Apr 08, 2016 04:51pm
What is a forensic audit firm? Never heard of it.
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Apr 08, 2016 04:52pm
One wishes that one day the opposition will lock horns on real issues like education poverty jobs etc.
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Apr 08, 2016 04:56pm
opposition trying to make sense before the next election.
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Apr 08, 2016 05:01pm
Lets start with forensic audit of PPP ministers and zardari assets hidden abroad !
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Apr 08, 2016 05:01pm
Why? no big deal. A Dual national can have a foreign offshore company. that is not a crime.
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Apr 08, 2016 05:02pm
Noting is going to come out of this.
Yes it is important question how the money was generated but then everything is on his Sons name who are residents/citizens of other countries and thus exempted from many laws of Pakistan.
This all is just political point scoring.
Our leaders are by products of our society. The society you and I have made so change start with us, how many of us really pay taxes?
Regards
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Apr 08, 2016 05:03pm
Morally and ethically the PM is bound to should step down. This will leave a good impression.
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Apr 08, 2016 05:20pm
@Ayub
Notion of moral and ethics, honour or shame have never had any meaning or significance in the land of the pure.
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Apr 08, 2016 05:21pm
Good lesson for PPP. If they had sided with Imran during the 'Dharna' days to expose the Sharifs' corruption it would have had different result.
No they did not.
Now crying hoarse would not vindicate them as they themselves are all deep-trenched in the same as well.
Wake up everyone!
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Apr 08, 2016 05:24pm
Sure, this is corruption and misappropriation of highest order of country's wealth and this is an opportunity to give exemplary punishment despite the status.
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Apr 08, 2016 05:25pm
@Imran "One wishes that one day the opposition will lock horns on real issues like education poverty jobs etc." do you mean that rampant corruption, loot of exchequer / public money is not a real issue ?
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Apr 08, 2016 05:26pm
Absolutely!! And let no person on that team be affiliated with any political party or have any other relationship with the the people being investigated or their families.
It has to be truly independent, objective and fair, with not even a suspicion of impropriety or favors to anyone.
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Apr 08, 2016 05:27pm
@Cyrus A firms specializing in fraud investigation, to uncover paper trails and links between transactions, transfers, ownerships, and beneficiaries. This firm goes much deeper than traditional auditor.
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Apr 08, 2016 05:29pm
Where is the Pakistan's Attorney General in this regard?
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Apr 08, 2016 05:39pm
To CYRUS: forensic audit firm is not a name of a firm , it is investigation term in criminology meaning following the trail of the transaction from end point to its real origination source.
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Apr 08, 2016 05:42pm
@Imran: BRAVO: This is what opposition should be concentrating on! Rather than jumping on conclusion without due course of law.
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Apr 08, 2016 05:51pm
If the PM steps down, it could derail the 'poor-friendly' democratic process; 'please people don't make such demands'; being a Pakistani PM he tries to woo the foreign investors to invest in Pakistan, but he and his multi billionaire sons&family are not interested in investing the country ountry; how could we progress then??? Well-done PM and his family!!! The govt especially the PM and Mr Ishaq Dar has been harping on about the same string of tax evasion but unfortunately the PM himself along his family has invested in the off-shores companies to evade tax; under such circumstances how could the govt expect others pay their taxes and rely on Pakistan economy?
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Apr 08, 2016 05:52pm
Before this, Panama was only famous for panama hats. Pun aside, as they were Panamian companies shrouded in secrecy, the first question arises is, was Sharif family paying ATED in UK? ATED is an annual tax payable mainly by companies that own UK residential property valued at more than £1 million. Anyway, that is the concern of UK tax authorities to probe.
There is no doubt that the law firm involved has helped clients launder money, dodge sanctions and evade tax. The questions in Pakistan are the legality of money taken out of Pakistan, the moral issue of whether rulers should do business outside Pakistan to stash money abroad, and the question of honesty when they were all denying before having properties overseas.
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Apr 08, 2016 05:55pm
@Imran Is there a doubt that the poverty and lack of education in the country exists, because someone misappropriated or perhaps looted people's wealth, and stashed it in foreign accounts and shell companies fo personal benefit?
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Apr 08, 2016 05:55pm
@Dr.Asif: After the NS and company and other PML(N) personal it should be Zardari, Fryal Talpur and others. Don't forget Maulana Fazal-ur-Rehman and of course Ishaque Daar and his sons.
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Apr 08, 2016 05:57pm
I think PM should resign & another PM should be appointed or else fresh elections should be held, peoples have lost faith in a person supposed to be the guiding light.
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Apr 08, 2016 05:58pm
@Imran where education will come from when there is no money. first country should be clean from corruption then you can promote education. look british high commission report about british fund for education in punjab gone missing.
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Apr 08, 2016 06:08pm
@Imran How about current government? Are they locking horns on poverty, education and healthcare?
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Apr 08, 2016 06:09pm
The only way out of this mess is adoption of a sound new tradition where when an executive or his/her blood relatives specially most close blood relations are under scrutiny, the executive excuses himself from the office in order to remove any and all signs of influence on the investigation. Also, what good are the existing institutions like PEC, NAB, FIA, etc., whose job is stopping such incidences promptly and acting as 'filters' through which questionable and corrupt politicians cannot pass to perpetuate such alleged irregularities. Economy is soul of any State and corruption slowly but surely bleeds that soul away resulting in chaos and hopelessness that is so real in society.
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Apr 08, 2016 06:10pm
@Cyrus It means checking in depth the accounts of the client and giving opinion on the results.
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Apr 08, 2016 06:11pm
@Sachin It is not a crime. Where the money came from in the first place is the real problem.
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Apr 08, 2016 06:13pm
Everyone should go to WikiLeaks website and see what they are saying regarding Panama Leaks!
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Apr 08, 2016 06:26pm
"setp down"?? this is not ICEland....
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Apr 08, 2016 06:36pm
why are all government ministers speaking and wasting their time holding conferences to defend nawaz sharif when this has nothing to do with them. This is a personal matter for Nawaz sharif to explain.
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Apr 08, 2016 06:49pm
The Beginning Of The End !
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Apr 08, 2016 06:52pm
@Cyrus forensic audit firms are specialists accountants who can follow the money trail to see where the funds originated from and how they ended up in the ofshore companies and whether any money laundering took place and if any tax have been paid on the said sums or not. Nawaz sharif will never willingly agree to this.
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Apr 08, 2016 06:53pm
Corrupt money or Black Money from Pakistan transferred to Dubai, Bahrain and Saudi banks, later moved to off shore companies like Panama and Virgin Island etc., later invested in different businesses in Europe, Dubai, Saudi Arabia etc. Investments comes under shell off shore company names, owners names kept secret. Some secrets are revealed. All the government officials must sign papers that they or their family members have no foreign assets or if any they should give details before joining civil service job like minister or PM.
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Apr 08, 2016 06:55pm
Since the inception PTV has been the exponent of Governments but actually it should be a mouthpiece of people. IK's demand may have negative repercusions in the long-run but the PML N government should find a way to make it a democratic network - the network of the people, for the people and by the people.
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Apr 08, 2016 06:56pm
This is a demand from Opposition that during its time took the case of Benazir Murder to the UN and had spent billions of Rupees as fees/charges in getting the matter investigated. But, what was the result?
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Apr 08, 2016 06:57pm
@Imran biggest issue in a country like
Pakistan is corruption. Fix that and everything else will sort itself out.
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Apr 08, 2016 07:04pm
Zardari and Nawaz both must be audited severely.
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Apr 08, 2016 07:06pm
Step down PM ASAP
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Apr 08, 2016 07:09pm
If PM is not scared of any wrong doing, he should welcome any forensic audit .
If he is refusing, that means there is something wrong he is trying to hide.
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Apr 08, 2016 07:10pm
@Imran This is exaclty why one should read the article first , I think you haven't listen to Imran Khan full speech in NA where he raised issue related to poverty, children , education environment
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Apr 08, 2016 07:13pm
What's long been suspected by many is now a documented fact for the whole world to see. Our politicians, in this case the PM's family, owns flats far beyond the means of a Pakistani businessperson, industrialist, or landlord. The ownership of these flats was hidden through offshore companies in offshore tax hideouts. Pakistan will look like a shamelessly corrupt and unethical country, if we don't do anything about these facts which are out in the open now.
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Apr 08, 2016 07:15pm
PM Nawaz Sharif wants a commission by retired judge to probe his family wrongdoing?. As the opposition in the parliament is demanding, CJP should head this judicial commission with international forensic audit firm investigating money laundering, tax evasion and properties overseas?
PM Nawaz Sharif's government has been of misleading the nation by contradictory statements, confusing press conferences and threats by senior ministers. This is unacceptable. In any other democracy, the prime minister would have stepped down immediately to allow impartial investigation. We demand the same in Pakistan.
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Apr 08, 2016 07:34pm
Why is it that Politician in West accept responsibility and Politicians in our countries blame others? How can a country be “great” of the PM does not accept responsibility? We are light years away from being “great” powers.
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Apr 08, 2016 07:35pm
@Cyrus It's a delay tactic.
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Apr 08, 2016 07:41pm
@Imran .It is all related.When money is stolen and stashed abroad,it's less money for education and health in Pakistan.
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Apr 08, 2016 07:49pm
@ray rahman "opposition should be concentrating on! Rather than jumping on conclusion without due course of law" my dear PM or his cronies themselves accepted / confessed that they owe offshore companies isn't enough what we are waiting for keeping money in offshore companies means evading tax, hiding black money etc what are the other reasons of keeping wealth in offshore companies ? if you have any kindly enlighten us
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Apr 08, 2016 08:04pm
This will drag on and then die down and then business as usual. Nothing spectacular will emerge out of any investigation.Eventually we'll be back to square one. Clean the society of all evils if you want a change. Revive moral values and inject sense of responsibility, integrity and honesty in your political system to make it transparent and accountable. Learn to be loyal to your land and the people who bring you to power. Don't rule them, serve them to earn their respect and admiration.
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Apr 08, 2016 08:06pm
having an offshore company is no big deal. the money came from the loans they have taken from the banks and they offer 100% financing if you have a strong financial background. there ia no big point in that. that is the only reason Pakistan is still stuck here. why dont you fix the problems like poverty etc? why dont all speak in matters like thats please stop pulling legs of each other.
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Apr 08, 2016 08:20pm
Prime Minister Nawaz Sharif has no faith in the country system, that is why he transferred all his wealth in his children name. BUT he loves to be the Prime Minister of Pakistan.
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Apr 08, 2016 08:28pm
Nothing short of 'forensic' international reputable accountants outfit to probe these leaks that instigates leading Pakistani individuals will suffice!
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Apr 08, 2016 08:30pm
Let's jump for this opportunity. Let's do a lot of forensic audit on Zardari, on Chowdry Shaujat, on Parvez Elahi, on Musharraf, on Altaf Hussain, on Rehman Malik, on Malik Riaz and every other person involved and in the last 50 years. Let's sort it out once and for all.
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Apr 08, 2016 08:37pm
With all due respect, why only the Sharif family ? Why not the Bhutto family, the Zardari's and all the other big and mighty politicians ? If any of these politicians have done nothing wrong and want to clear their name, they should volunteer and show leadership and a token of their honesty and hard work by writing their name on the list themselves, lets see how many come forward, just claiming to be honest and telling the nation of their sad stories is only one side of the story.Lets confirm their innocence once in for all, and it should be done by an international firm.
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Apr 08, 2016 08:42pm
Shocking level of apathy of the rulers of a country where a 1/3 or about 60 million are living below the poverty line, and surviving on a meager income of less than $1 a day! And this is based on government's own analysis and data released today!
It should be criminal for any politician holding office in Pakistan to invest any money outside the country, or even hold dual nationality. The constitution has to be revised to close this loophole in the future and actions should be taken to bring back every penny that has been removed from the country illegally, or without paying taxes on income generated within Pakistan.
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Apr 08, 2016 08:46pm
I have to say it. We are all alarmed at the revelations by the Panama papers only. Just one source so far!
Imagine how many other offshore bank accounts, tax-heavens and shell corporations overseas that hold secrets of hundreds or thousands of rich Pakistanis, and looted wealth in the $billions, that we are not even aware of as yet!?
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Apr 08, 2016 08:50pm
@Imran so billions of dollars corruption is a non issue for you people. No wonder there is poverty.
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Apr 08, 2016 08:52pm
Only gulty politicians would oppose to independent international audit firms
to lead the Panama leak investigation against Nawaz Sharif andhid family.
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Apr 08, 2016 09:22pm
"Panama leaks" is a free God given opportunity to Pakistan to look deep into rampant corruption, and do something to control it. Please wake up, Pakistan!
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Apr 08, 2016 09:47pm
Fair demand, Supreme Court should take notice and force government to engage reputed international audit firm for investigation of all those who have off shore accounts.
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Apr 08, 2016 09:49pm
This is silly, PML and PPP are on the same page on this "forensic" thing. If you think PPP is against pml on this you are living in utopia. PPP is only making noise so people think they are. The opposition however, both parties know the law firm or any other foreign firm will NEVER ALLOW any forensic test, will never provide any forensic evidence, report or document. So, here is the scenario: ppp and pml made a back channel contact on this, agreed on a fixed match, agreed on forensic knowing that it will never be allowed and will only buy a lot of time and till then bubble will be burst and everyone will just shut up. Pml will come out clean and ppp will get their fair share in terms if not opening any cases against them. Case closed.
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Apr 08, 2016 09:56pm
@Imran
Your comment implies that corruption is not a real issue.
It's the root cause of the issues that you mentioned.
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Apr 08, 2016 10:41pm
I wish our politicians had some faith in own system and some consideration for the public money? What did we achieve even after paying millions of dollars to UN in BB case?
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