October 4, 2021
3 mins read

Pandora Papers rocks Pak politics

According to the ICIJ report, Pakistan’s civilian government and military leaders have been hiding vast amounts of wealth in a country plagued by widespread poverty and tax avoidance…reports Asian Lite News.

The release of Pandora Papers containing names of the close associates of Imran Khan has ruffled Pakistani politics and sparked calls for the resignation of the Pakistani Prime Minister.

The news published documents has revealed names of 700 Pakistani individuals and members of Prime Minister Imran Khan’s cabinet, inner circle, including cabinet ministers, their families, who have secretly owned an array of companies holding millions of dollars of hidden wealth, according to International Consortium of Investigative Journalists (ICIJ).

Among those whose holdings have been exposed are Khan’s finance minister, Shaukat Fayaz Ahmed Tarin, and his family, and the son of Khan’s former adviser for finance and revenue, Waqar Masood Khan. The records also reveal the offshore dealings of a top PTI donor, Arif Naqvi, who is facing fraud charges in the US, ICIJ said.

Members of Opposition’s Pakistan Muslim League party called for Imran Khan’s resignation on Sunday following the publication of the Pandora Papers. Forced on the back foot, Imran Khan on Sunday said on Twitter that his government will probe all citizens mentioned in the Pandora Papers.

“My govt will investigate all our citizens mentioned in the Pandora Papers & if any wrongdoing is established we will take appropriate action. I call on the international community to treat this grave injustice as similar to the climate change crisis,” Khan tweeted.

According to the ICIJ report, Pakistan’s civilian government and military leaders have been hiding vast amounts of wealth in a country plagued by widespread poverty and tax avoidance.

ICIJ said Pakistan’s elites use of offshore services that rival the findings of the Panama Papers, which led to Sharif’s downfall and helped propel Imran Khan to power three years ago.

The revelations are part of the Pandora Papers, a new global investigation into the shadowy offshore financial system that allows multinational corporations, the rich, famous and powerful to avoid taxes and otherwise shield their wealth.

The probe is based on more than 11.9 million confidential files from 14 offshore services firms leaked to the International Consortium of Investigative Journalists and shared with 150 news organisations around the world, according to ICIJ.

The document has revealed many key military leaders of Pakistan and intergenerational wealth transfer. The findings offer a portrait of an unaccountable military elite with extensive personal and family offshore holdings.

Pakistan Prime Minister is surrounded by people – cabinet ministers and their families, donors and other political allies – who have holdings hidden offshore, according to ICIJ.

Pakistan’s Finance Minister Shaukat Tarin and some members of his family own four offshore companies. Omer Bakhtyar, the brother of Khan’s minister for industries, Makhdum Khusro Bakhtyar, transferred a USD 1 million apartment in the Chelsea area of London to his elderly mother through an offshore company in 2018.

Faisal Vawda, Khan’s former minister for water resources set up an offshore company in 2012 to invest in UK properties. He resigned in March amid a controversy over his status as a dual US-Pakistan national. The financial backers of Imran Khan are prominent in leaked documents, according to ICIJ. (ANI)

ALSO READ-Tony Blair, King of Jordan, Czech PM figure in Pandora Papers

READ MORE-PANDORA GOES PANAMA WAY: Niyazi Faces Nawaz’s Fate

Previous Story

Uganda and New Zealand showcase their culture

Next Story

Ireland pavilion features exciting work of talented designers, innovators

Latest from -Top News

Pakistan’s Shadow War in Balochistan

At least 50 killed by Pakistan-backed death squads in Balochistan in April, says HRCB — toll expected to rise in May….reports Asian Lite News The Human Rights Council of Balochistan (HRCB) reported

Russia, Ukraine Resume Talks

The upcoming talks follow a significant hiatus in diplomatic engagement between the two nations, which have been locked in a brutal conflict since Russia’s invasion of Ukraine in February 2022 Russia and

UN Pays Tribute to Indian Soldiers

Thursday was observed as the 77th UN Peacekeepers Day, honouring the work of 61,353 peacekeepers, of whom 5,375 hailed from India….reports Asian Lite News Brigadier Amitabh Jha and Havildar Sanjay Singh, who

Modi’s New Warfare Playbook

Modi has upended the old playbook and India and Pakistan are entering dangerous new territory where nuclear deterrence is no longer a guarantee against conventional conflict…writes Collins Chong Yew Keat The India-Pakistan
Go toTop

Don't Miss

Pakistan to participate in Asian Track Cycling Championship in Delhi

The participation is seen as a positive forward movement and

Govt will not succumb to PTIs pressure, say Sharifs

Nawaz told Shehbaz to “continue doing his best to take