The Prime Minister’s Inspection Commission (PMIC) has completed about 80 per cent of the fact-finding inquiry into the Pandora Papers revelations regarding offshore companies, money laundering, and tax evasion by bigwigs, and (in response to its queries) received replies from almost all public office-holders, bureaucrats and generals whose names have appeared in the papers, reports Dawn.
“Soon after the leak, the PMIC was tasked with the fact-finding inquiry and the commission sent a pro forma carrying some queries to a majority of 240 persons, except a few whose names have not been verified so far. The PMIC engaged relevant institutions and has so far managed to complete 80 per cent inquiry,”
The PMIC will meet its deadline for completing the first phase of the inquiry against 240 people by the end of this month (Jan 2022). The commission will further proceed on new names to be shared by the International Consortium of Investigative Journalists (ICIJ).
The commission believes that not all 240 accused would have committed money laundering and tax evasion as opening firms abroad and placing assets there was not a crime unless they were involved in money laundering and violating tax laws.
Pandora Papers was made public on Oct 3, 2021. The Pandora Papers are based on documents leaked to the ICIJ which expose offshore dealings by kings, presidents, and prime ministers of more than 50 countries.
According to the ICIJ, Pandora Papers contain names of more than 700 Pakistanis who secretly own or have owned an array of companies and trusts holding millions of dollars in the offshore jurisdiction.
