Tag: Pandora Papers

  • 80 per cent fact-finding inquiry into Pandora Papers complete

    80 per cent fact-finding inquiry into Pandora Papers complete

    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.

  • Tehreek-i-Labbaik, Generals and leaked audios: Pakistani politics in 2021

    Tehreek-i-Labbaik, Generals and leaked audios: Pakistani politics in 2021

    The current political state of affairs of Pakistan is in desperate demand of significant alterations. The conquest to achieving a fundamentally strong democratic sovereign country seems more like a dream. From its beginning in 1947, the country has had a turbulent life with political instability and ethnic disputes characterising its existence. 2021 was no exception.

    Here are some highlights pointing out the fatal fault lines experienced by the political chessboard in Pakistan in 2021.

    Tehreek-i-Labbaik Pakistan (TLP):

    Tehreek-i-Labbaik Pakistan (TLP) is a far-right Islamic extremist political party in Pakistan. The party was founded by Khadim Hussain Rizvi in August 2015 and is now led by his son Saad Hussain Rizvi. The party in January warned of taking to the streets if the government does not fulfill its promise of expelling the French ambassador by February 17. The government then signed a new agreement in February agreeing to take the issue to the parliament.

    In April, the TLP called for the implementation of its November agreement and insisted on Pakistan downgrading ties with France. Protests erupted in several cities after Saad Rizvi, the leader of the TLP, was arrested in Lahore. As clashes between the law enforcement agencies and the TLP became violent, 16 policemen were taken hostage by the protesters.

    When negotiations with the group broke down, the federal government banned the TLP under the anti-terrorism law, taking Saad Rizvi into custody under administrative orders.

    The TLP hit the streets again in October this year. Rangers were deployed in Punjab to maintain law and order as negotiations failed with the group.

    However, a high-powered government team held talks with the TLP once again and managed to reach an agreement.

    Mufti Muneeb-ur-Rehman held a news conference to announce that talks with the banned TLP have been “successful” and that an “agreement” had been reached between both sides.

    The deal comes after 10 days of violent protests that saw at least seven police officials killed and dozens wounded, as protesters blocked major roads and a highway in and around Lahore.

    The federal cabinet revoked the declaration of the TLP as a banned group and the provincial government moved to remove Rizvi’s name from an anti-terrorism watchlist.

    The authorities released the chief of the Tehreek-e-Labbaik Pakistan after weeks of negotiations that followed deadly protests, leaving many injured and dead.

    Tehreek-i-Taliban Pakistan (TTP):

    Prime Minister (PM) Imran Khan in his October 1st interview with TRT World said that the government is in talks with some factions of the outlawed Tehreek-i-Taliban Pakistan (TTP) adding that the negotiations were taking place in Afghanistan.

    PM Khan said that if the TTP lay down their arms, “we can forgive them and they can become normal citizens.”

    “Pakistani Taliban groups actually want to talk to our government for some peace, for some reconciliation and we are in talks with some of those groups,” added PM Khan.

    The ceasefire came into effect on November 9, after the government announced the start of talks with the armed group, which is fighting with the state since 2007 and carried out dozens of attacks targeting civilians as well as security forces in the country.

    On November 8, Information Minister Fawad Chaudhry confirmed that the month-long ceasefire had been agreed upon between the government and the TTP.

    In December, Fawad warned TTP and said that the government will only talk to those who respect the Constitution and law of Pakistan. Otherwise, the government has battled before and will do again.

    The information minister said that the Taliban government had once again pressed the TTP to abide by the ceasefire agreement. “And I think their advice is sane,” he added.

    Chaudhry’s remarks came after TTP’s announcement of ending a month-long ceasefire with Pakistan and the death of a policeman in an alleged armed attack on a polio vaccination team by TTP in Khyber Pakhtunkhwa (KP).

    The establishment:

     “The army and government share an ideal relationship,” said Fawad Chaudhry. Why did the minister have to say the following words? 2021 was also the year where the relationship between the establishment and the ruling PTI felt some “strain”. What could have put pressure on this ideal relationship? To summarize, it was allegedly the ‘spymaster disaster’.

    One fine crisp afternoon of October, the Inter-Services Public Relations (ISPR) announced a reshuffle in the army, in which Lt Gen Nadeem Ahmed Anjum was to replace Lt Gen Faiz Hameed, who was to be posted as Commander of Peshawar-based Corps XI.

    And then came the disaster which no one anticipated. The delay in the transfer of power. Soon all everyone could talk about was the postponement from the PM’s office in issuing the notification for the appointment of the incoming Inter-Services Intelligence (ISI) chief.

    We were reminded that PM Khan was the authority in appointing the Director General (DG) ISI. Fawad Chaudhry lamented that legal methods were being adopted in the appointment of the new DG.

    It also emerged that PM Imran wanted Lt Gen Hameed to continue for some time due to the critical situation in neighbouring Afghanistan and he conveyed this to Chief of Army Staff (COAS) General Qamar Javed Bajwa during a detailed meeting between the two.

    The premier also decided he would like to interview the potential candidates, all that while assuring party leaders that the appointment issue had been settled with COAS Bajwa.

    After a prolonged three weeks, the impasse was finally resolved on October 26, after the premier finally notified the appointment of Lt Gen Anjum.

    The curious case of audio-video leaks and the mighty affidavit:

    Saqib Nisar audio leak:

    Leaked audio of a conversation, allegedly involving the former CJP Saqib Nisar, suggested that the former Chief Justice was the person who passed on the directions of handing down convictions to Pakistan Muslim League-Nawaz (PML-N) supremo Mian Nawaz Sharif and his daughter, Maryam Nawaz. According to the leaked audio, Nisar did this only because the “institutions” wanted the former prime minister penalised in order to bring ahead Imran Khan, reports Ahmed Noorani for Fact Focus.

    As per the leaked audio, Chief Justice Nisar instructed that Mian Sahib (Nawaz Sharif) and his daughter (Maryam Nawaz) must be sentenced ‘even though it is unfair’.

    “Whether it is fair or not, it has to be done,” he conveyed to the person on the other end.

    “Regardless of the merit, we will have to do it (sentence Nawaz Sharif), and even his daughter,” said Justice Nisar.

    When the person he was conversing with objected that a sentence cannot be passed against the daughter, Chief Justice Nisar replied, “You are absolutely correct. I did talk to ‘friends’ that something should be done about this but they did not agree.”

    He went on to say, “there will remain no independence of the judiciary, so let it be”.

    The affidavit against Saqib Nisar:

    The leaked audio wasn’t enough, it seems and along came an affidavit rolling onto the political chessboard, changing the game once again for Saqib Nisar.

    In November, The News journalist Ansar Abbasi published an investigative report which quoted former top judge of Gilgit-Baltistan, Rana Shamim, who has given an alleged affidavit, that Nisar colluded to deny bails to former premier Nawaz Sharif and his daughter Maryam Nawaz before the 2018 general elections.

    After allegations come the denial and CJP Nisar’s case was no different. Nisar vehemently denied all allegations leveled against him.

    Islamabad High Court comes calling:

    In a recent turn of events, the Islamabad High Court (IHC) on Tuesday set January 7, 2022, as the day for framing charges against former Gilgit-Baltistan Chief Judge Rana Shamim and others in a case related to an affidavit that accuses former Chief Justice of Pakistan (CJP) Mian Saqib Nisar of colluding to deny bails to Pakistan Muslim League-Nawaz (PML-N) leadership prior to the 2018 elections.

    Audio leak of Maryam Nawaz:

    An alleged audio clip of PML-N Vice President Maryam Nawaz was leaked on social media in which she could be heard talking to someone on the phone. During the telephonic conversation, the PML-N Vice President said, “I talked to Mir Shakeel Sb [owner of Geo News] personally, I told him that are showing facts from both sides, instead you should tell people Imran Khan lied without any verification, and Imran Khan not only repeated this lie but also made ten other things.”

    She further said that she told Mir Shakeel that he has to do it [to push her narrative], and he [Mir Shakeel] did it.

    Maryam further said that she told Mian Amir Mahmood [owner of Dunya News] the same, and he replied “Aap Dekhein me krta kia hun iske saath” [Now see what I do with him.]

    Earlier, another audio clip of Maryam went viral on social media in which Maryam Nawaz can be heard saying, “We have given many chances to Samaa News. The kind of news Samaa [airs] and the way its anchor Nadeem Malik is, we can no longer work with the channel. So we are not giving any ads to Samaa.” ”Samaa News, Channel 92, ARY News, and Channel 24 will not get any ads from us [PML-N],” said Maryam

    Maryam on November 25, confirmed the authenticity of her viral audio clip but the date of the clip is still not known, whether it was when the PML-N was in government or opposition.

    Leaked video scandal of Muhammad Zubair:

    PML-N’s Muhammad Zubair’s leaked video, where he was allegedly seen in compromising acts with women, went viral on social media.

    The former governor of Sindh categorically denied the video and termed it to be a “new low in politics” along with claiming that the video is “fake and doctored”.

    The mobile footage, which allegedly showed the PML-N leader in bedrooms with women is blurred and the women cannot be identified.

    Pakistan Democratic Movement (PDM):

    Pakistan Democratic Movement (PDM), an alliance of Opposition parties against the ruling PTI was formed in September 2020.

    The alliance failed to remain united for long and the Pakistan People’s Party (PPP) exited the coalition on April 12 this year over it being served a show-cause notice by Shahid Khaqan Abbasi in his capacity as the alliance’s secretary-general. The notice was sent after the PPP nominated PPP leader Yousuf Raza Gilani as the opposition leader in the Senate “in violation of the alliance’s decisions”.

    The Central Executive Committee of the PPP asked all the party members to resign from their positions in the PDM.

    PPP chairperson Bilawal Bhutto-Zardari said no party “should try and impose its will and dictation on any other member party”.

    Before parting its ways from the PDM, the PPP had a different opinion with regard to the resignations from the assemblies, which was being touted by the PML-N and some other member parties.

    Before the PPP, the Awami National Party had also quit the PDM over its being “hijacked by some member parties”.

    The PDM is now comprised of five parties namely the PML-N, Jamiat Ulema-i-Islam (JUI-F), Pakhtunkhwa Milli Awami Party (PkMAP), National Party (NP), and Balochistan National Party (BNP-Mengal).

    However, the Opposition alliance has pledged to reach Islamabad on March 23, 2022, and warned the authorities against any attempt to use force to prevent the marchers from entering the federal capital.

    “So far, we have decided to reach Islamabad. The duration of the stay will be decided [by the leadership] after reaching the capital,” said PDM spokesman Hafiz Hamdullah.

    Pandora Papers:

    The International Consortium of Investigative Journalists (ICIJ), investigating international finance and tax havens, released a detailed list of public figures with offshore companies called the ‘Pandora Papers’ as part of their new investigation.

    Nearly 700 Pakistanis were named in the report including Finance Minister Shaukat Tarin, PPP leader Sharjeel Memon, Pakistan Muslim League -Nawaz’s (PML-N) Senator Ishaq Dar’s son Ali Dar, Punjab provincial minister Aleem Khan, Pakistan Tehreek-e-Insaf (PTI) Senator Faisal Vawda, Pakistan Muslim League- Quaid (PML-Q) leader and Federal Minister for Water Resources Monis Elahi.

     PM Khan vowed to investigate all those Pakistanis mentioned in the Pandora Papers, and tweeted: “If any wrongdoing is established we will take appropriate action.”

    “We welcome the Pandora Papers exposing the ill-gotten wealth of elites, accumulated through tax evasion & corruption & laundered out to financial ‘havens’. The UN SG’s Panel FACTI calculated a staggering $7 trillion in stolen assets parked in largely offshore tax havens,” he tweeted.

    “The Pandora Papers”, is said to be the result of 600 journalists in 117 countries studying for months roughly 11.9 million documents that leaked from the offshore environment.

    Senate Elections:

    The year 2021 marked elections for the upper house of Parliament. The PTI went all-in with its juggernaut politics being directly supervised by PM Khan.

    Last year, the president had approached the apex court to seek its opinion on whether or not the condition of the secret ballot under Article 226 of the Constitution applied to the Senate elections.

    The president also promulgated a premature ordinance in February after attempts by the government to pass the 26th Constitution Amendment Bill in the National Assembly failed to make headway.

    However, this was in vain as the apex court announced in its verdict in March and said the polls would be held through secret ballot. The reason for the push behind using open ballots was to eliminate the practice of horse-trading.

    Hours before the polls were set to begin, a video surfaced showing the son of former premier Yousuf Raza Gilani, explaining to lawmakers how to cancel their votes. Gilani was fielded as a joint candidate of the opposition alliance Pakistan Democratic Movement from Islamabad and was the lone competitor for the now-former finance minister Dr Abdul Hafeez Sheikh.

    Despite the PTI’s objections, the Senate election was held on March 3. In a major upset for the government, Gilani managed to defeat Sheikh, forcing the prime minister to seek a vote of confidence from the NA.

    Presidential Ordinance to extend NAB Chairman’s tenure:

    President Arif Alvi in October signed an ordinance that enabled the president to reappoint the incumbent National Accountability Bureau (NAB) chairman or extend his tenure.

    The National Accountability Second Amendment Ordinance 2021 amplified the opposition’s role in the appointment of the NAB chairman.

    The ordinance amended Sub-section b of Section 6 of the National Accountability Ordinance (NAO) to grant extension in the tenure of the NAB chairman by excluding the word “non-extendable” from the law.

    However, it has retained the provision that makes consultation between the Opposition leader and the leader of the house in the National Assembly on the appointment of NAB chairman, stating that the president would consult both of them.

    It has increased the role of the Opposition and enhanced the parliamentary oversight as it has provided a forum of a 12-member parliamentary committee in case the consultation between the PM and the opposition leader proves futile.

    The ordinance has enhanced the authority of the prosecutor general of NAB empowering him to play a crucial role in advising the chairman to file or withdraw any reference from the court.

    It has also allowed the accountability court to grant bail to any accused.

    Opposition parties criticised the amended ordinance and criticized extension to the NAB Chairman and called it tantamount to distorting the constitution and law of the country.

  • ‘No action against cabinet members named in Pandora Papers till found guilty’: Fawad Chaudhry

    ‘No action against cabinet members named in Pandora Papers till found guilty’: Fawad Chaudhry

    Information Minister Fawad Chaudhry on Tuesday said the federal cabinet members, whose names appeared in the Pandora Papers, would not be removed from their positions unless proven guilty.

    “Action will be taken once they are proven guilty,” said the minister.

    Chaudhry criticised the owners of media houses and said, “I see the photos of [Finance Minister] Shaukat Tarin and [Industries Minister] Khusro Bakhtiar being aired on TV channels, but not of media house owners, who have also been named as owners of offshore companies.”

    Prime Minis­ter (PM) Imran Khan on Monday formed a high-powered cell to investigate the 700 Pakistanis named in the Pandora Papers, including federal cabinet members, politicians, retired generals, owners of media houses, and others in establishing offshore companies.

    The cell will categorise the named individuals into four groups: those who have declared their offshore companies in Pakistan; those who have not declared their companies here and committed tax evasion; those who used their companies for money laundering and individuals who have not shown their offshore companies as part of the assets owned by them while declaring their wealth, reports Dawn.

  • High-powered cell to investigate 700 Pakistanis in Pandora Papers: PM Khan

    High-powered cell to investigate 700 Pakistanis in Pandora Papers: PM Khan

    Prime Minis­ter (PM) Imran Khan on Monday formed a high-powered cell to investigate the 700 Pakistanis named in the Pandora Papers, including federal cabinet members, politicians, retired generals, owners of media houses, and others in establishing offshore companies.

    PM Khan categorically stated that the prominent leaders and federal ministers of Pakistan Tehreek-e-Insaf (PTI) will have to clear themselves.

    Information Minister Fawad Chaudhry, while speaking to Dawn said: “The prime minister was adamant that those who have been accused in Pandora Papers of having offshore firms will have to clear themselves.”

    The minister took to Twitter and informed about the formulation of the high-powered investigation cell. “The prime minister has set up a high-level cell under the Prime Minister’s Inspection Commission to investigate the Pandora leaks, which will present the facts before the nation,” tweeted Fawad.

    Law Minister Farogh Naseem would head the investigation cell that would also comprise the National Accountability Bureau (NAB), Federal Board of Revenue (FBR), and Federal Investigation Agency (FIA) officials. The cases of the cabinet members would be sent to NAB for investigation. A separate probe will be launched by the Ministry of Information and Broadcasting and the Pakistan Electronic Media Regulatory Authority (Pemra) to investigate the media owners whose names are included in the Pandora Papers, reports Dawn.

    Those who had evaded tax or made offshore firms through ill-gotten money would be taken to task, otherwise, no action would be taken against others because establishing offshore firms was not a crime, the source tells Dawn.

    Under the law, setting up an offshore company is not an offence or crime if the company is not involved in any illegal activity. However, those who have not declared these companies in their returns as assets may face legal action.

    After the International Consortium of Investigative Journalists (ICIJ) released a detailed list of public figures with offshore companies called the ‘Pandora Papers’ as part of their new investigation, PM Khan vowed to investigate all those Pakistanis mentioned in the Pandora Papers, and tweeted: “If any wrongdoing is established we will take appropriate action.”

  • Explainer: Who are the 700 Pakistanis in Pandora Papers?

    Explainer: Who are the 700 Pakistanis in Pandora Papers?

    More than 700 Pakistanis are in the data revealed in Pandora Papers and a majority of them are tax residents in Pakistan, reports Umar Cheema for The News.

    Key members of Prime Minister Imran Khan’s cabinet, retired civilian and military officials and their families as well as owners of some of the country’s top media outlets, secretly own or have owned an array of companies and trusts holding millions of dollars in offshore jurisdictions, Fakhar Durrani reports for The News.

    Politicians in Pandora Papers

    The revelations made in the Pandora Papers, which contain the names of some prominent and key figures in Prime Minister Imran Khan’s cabinet, will be a test case for PM Khan to make his close associates answerable for holding offshore companies.

    Below is the list of a few of the many prominent politicians of the government and Opposition whose names are in the Pandora Papers.

    1. Shaukat Tarin:

    Shaukat Tarin was recently inducted into Khan’s cabinet and appointed Finance and Revenue Minister. Tarin and three of his family members have four offshore companies registered in the British Virgin Islands (BVI) jurisdiction. The Tarin family incorporated four offshore companies —Triperna Inc, Hamraa Inc, Seafex Inc, and Moonen Inc — all of them in 2014. 

    Tarin confirmed being part of the above companies directly or through his family members for the sole purpose of raising capital for his bank. 

     “We were in negotiations with a Middle East conglomerate for raising capital for my bank, through a structured transaction. The proposed investor had also taken the Central Bank’s in-principle approval for the investment.” He added that the companies remained dysfunctional and no business was carried out through them.

    2. Faisal Vawda:

    Former minister for water resources, Faisal Vawda, his wife, and his sister have an offshore company. The Vawda family incorporated Dazzling Worldwide Ltd in the BVI jurisdiction in 2012 to invest in UK properties, the Pandora Papers show.

    Vawda told the International Consortium of Investigative Journalists (ICIJ) that he has declared all the worldwide assets held in his name to the Pakistani tax authorities.

    3. Abdul Aleem Khan:

    Another close aide of Prime Minister Imran Khan, Abdul Aleem Khan also owns an offshore company. The Pandora Papers show that the registered directors of Hexam Investment Overseas Limited (BVI) — Aleem Khan and his wife — approved a written resolution of the offshore company on March 1, 2017, and confirmed being directors of Hexam Investment.

    National Accountability Bureau (NAB) had also initiated an investigation against Aleem Khan. It is, however, not confirmed whether he has declared the company in his tax returns or not.

    Aleem Khan is now the owner of Samaa News.

    4: Chaudhry Moonis Elahi:

     Federal Minister for Water Resources Moonis Elahi was the Settlor and Investment Director of the Green Hills Trust and Winthrop Fund.

    Moonis wanted to invest money from the 2007 sale of land owned by Phalia Sugar Mills, an Elahi family business. Thomson Reuters Risk Management Solutions carried out due diligence of Moonis Elahi and produced a 19-page report with the details of his alleged involvement in corrupt land projects. The report mentioned fraudulent loans from the bank and selling the land to a government department. However, despite this due diligence report, Moonis was accepted as Asiaciti’s client.

    The family spokesperson of Chaudhrys said that the assets of the family, including Chaudry Pervaiz Elahi and Chaudry Moonis Elahi, are declared as per applicable law.

    5. Ali Dar:

    The Pandora Papers reveal that former Finance Minister Ishaq Dar’s son, Ali Dar, owns two companies — Baraq Holdings Ltd and Dar Al Nahyan Ltd — registered in the British Virgin Islands.

    Dar in his reply to The News said Dar Al Nahyan Limited remained dormant and no business has been done in the company, which has now been struck off the register. He said he has never been a tax resident in Pakistan and nor has he ever been involved in any professional employment or business activities whatsoever in Pakistan.

    6. Sharjeel Inam Memon:

    Former information minister in the Sindh government Sharjeel Inam Memon also owned three offshore companies in the BVI jurisdiction. The three companies that are owned by the Memon family include Ocean Wave Technologies Corp, Arctic Development Corp., and New Coast Executive Inc.

    The companies are involved in the real estate business. The former provincial minister while talking to The News neither denied nor confirmed the companies’ ownership.

    Media owners included in Pandora Papers

    The Pandora Papers have brought forth some media owners’ names who have offshore companies in offshore jurisdictions.

    1. Hameed Haroon:

    Hameed Haroon — CEO of Dawn media group — owns an offshore company Bardney Limited, registered in Seychelles.

    In his official response to The News, Haroon said the company is duly declared and is being reported to the relevant authorities in Pakistan in accordance with the applicable laws of the land.

    2. Mir Shakil-ur-Rahman:

    Jang Group’s Publisher Mir Shakil-ur-Rahman (MSR) owns an offshore company Brookwood Ventures Limited in the BVI jurisdiction. Mir Shakil-ur-Rahman was transferred the shares of the company on April 17, 2008. 

    Mir Shakil-ur-Rahman, responding to the investigation cell, said, “No, it’s not true, I don’t own any company. However, I had this till 2018.” The News also asked him that the British Virgin Islands is a tax and secrecy haven. Why he opted to set up a company there. MSR replied that people invest in BVI as it offers attractive conditions for investment. MSR was also asked if he declared the company with the relevant tax authorities to which he said, “Yes, it was part of my wealth for the tax year 2018 and subject to taxes where applicable.”

    3. Sultan Ali Lakhani:

     Express Media Group Sultan Ali Lakhani also owns an offshore company Century Media Network Inc. The company was incorporated in February 2005.

    The spokesperson of the Lakhani family said all companies are legal and as per law of the land wherever applicable.

    4. Gourmet Group:

    Pandora Papers reveal that an employee of Gourmet group named Amna Butt was appointed director of an offshore company, Gourmet Holdings Limited in the BVI jurisdiction. The Gourmet group owns a large chain of bakeries across Punjab. In addition, the group owns a news channel called Gourmet News Network (GNN) as well.

    It is, however, not confirmed whether the company is declared with the Pakistani tax authorities or not. Amna Butt was sent a questionnaire by The News, but no response has been received from her.

    Military officials and family included in Pandora Papers

    Apart from the politicians, media owners, and civilian bureaucrats, some top retired military officials have also been named in the new leaks.

    1. Major General (retd) Nusrat Naeem:

    Major General (retd) Nusrat Naeem owned a BVI company, Afghan Oil & Gas Ltd that was registered in 2009, shortly after his retirement. In his response to the ICIJ, he said that the company had been set up by a friend and that he did not use it for any financial transactions.

    2. Ahsan Latif:

    Ahsan Latif — son-in-law of former Governor Punjab Lt General (retd) Khalid Maqbool — owned an offshore company, Dylan Capital Limited, registered in the British Virgin Islands.

    It is not clear whether Ahsan Latif has declared the above-mentioned assets before the tax authorities in Pakistan. The News sent a query to him but received no response from him

    3. Muhammad Hasan Muzaffar:

    Pandora Papers reveal that Muhammad Hasan Muzaffar, son of Lt General (retd) Muhammad Afzal Muzaffar, owned shares in a company registered in the British Virgin Islands, Creek Growth Capital Holding Ltd. The offshore company owned Southeast Healthcare Holding, which in turn controlled a Dubai-based medical centre that now appears to be closed.

    Hasan told ICIJ that the simple fact is there is no relation of this investment to his father. He further commented that the investment was made solely from his own income earned in the UAE and came from his UAE bank account. No other family member, including his father, was involved.

    4. Shafatullah Shah:

    The former military secretary of Gen Pervez Musharraf, Lt Gen (retd) Shafatullah Shah owns an expensive apartment in London through an offshore company, which is in the names of his wife and son. 

    5. Raja Nadir Pervez:

     Pandora Papers also reveal that Raja Nadir Pervez, a retired army lieutenant colonel and former minister in the Nawaz Sharif-led government, owned International Finance & Equipment Ltd, a BVI-registered company. In the leaked files, the firm is involved in machinery and related businesses in India, Thailand, Russia, and China. 

     He is currently a member of Imran Khan’s Pakistan Tehreek-e-Insaf (PTI). Raja Nadir Pervez did not respond to ICIJ reporters’ questions.

    Businessmen and civil bureaucrats included in Pandora Papers

    1. Yawar Salman:

    Son of bureaucrat Salman Siddique, Yawar Salman along with another partner Noeen Ahmed Anwar registered an offshore company, just a little before the former’s father’s retirement. The company is called Cres Tech Holdings Limited in the BVI.

    Yawar Salman told The News that the entity Cres Tech Holdings was incorporated as part of a then-envisaged plan to undertake a foreign business. However, owing to certain circumstances, neither any equity was contributed nor any bank account opened. Since no equity was ever contributed and the entity’s worth remains ‘nil’, the question of disclosing it to the tax authorities does not arise.

    2. Javed Afridi:

    The Pandora Papers have also revealed that the owner of the Pakistan Super League (PSL) franchise, Peshawar Zalmi, and renowned industrialist Javed Afridi owns three offshore companies in the BVI jurisdiction. Afridi is the beneficial owner of Old Trafford Properties Ltd, Sutton Gas Works Properties Ltd, and Gas Works Property Ltd.

    Javed Afridi in his response confirmed to The News ownership of three offshore companies. He said the reason to incorporate them was for the good intention to save tax rather than avoiding any tax. According to him, the companies were almost dormant, and no business or investment was done by any of the companies.

    Pandora Papers

    The papers are named after the Greek myth of Pandora’s box. In the tale, Pandora opens a sealed box containing the forces of evil and suffering which, once released, were uncontainable.

    BBC quoted Gerard Ryle, the director of ICIJ, as saying this leak was given the name because “we’re opening a box on a lot of things”.

    This information revealed above has been named Pandora Papers and it adds significantly to what was discovered in the Panama Papers and Paradise Papers.

    The Pandora Papers have unmasked the fortunes of more than 330 public officials in 90 countries. Included among them are 35 current and former leaders of different countries. The King of Jordan, the rulers of Qatar and Dubai, presidents of the Ukraine, Kenya, and Ecuador, the prime ministers of the Czech Republic and Lebanon, and former British prime minister Tony Blair, all appear in the secret files.

    For Pakistan, the files pose a big test to the accountability credentials of Prime Minister Imran Khan, who had found the Panama Papers a “God-sent” opportunity to burnish his credentials as an anti-corruption warrior.

    The documents were leaked to the Washington-based International Consortium of Investigative Journalists (ICIJ) which for nearly two years led an investigation collaborating with more than 600 journalists in 117 countries. This is the biggest journalism partnership in history, which involved 150 media organisations. For the Panama Papers, almost 400 journalists from 80 countries participated in the investigation. The News was the only ICIJ partner from Pakistan on both occasions. The Pandora Papers comprise 11.9 million documents whereas the Panama Papers had 11.5 million, reports The News.

  • PM Khan welcomes Pandora Papers, vows to investigate Pakistanis mentioned

    PM Khan welcomes Pandora Papers, vows to investigate Pakistanis mentioned

    The International Consortium of Investigative Journalists (ICIJ), which has been investigating international finance and tax havens, has released a detailed list of public figures with offshore companies called the ‘Pandora Papers’ as part of their new investigation.

    Nearly 700 Pakistanis have been named in the report including Finance Minister Shaukat Tarin, Pakistan People’s Party’s (PPP) leader Sharjeel Memon, Pakistan Muslim League -Nawaz’s (PML-N) Senator Ishaq Dar’s son Ali Dar, Punjab provincial minister Aleem Khan, Pakistan Tehreek-e-Insaf (PTI) Senator Faisal Vawda, Pakistan Muslim League- Quaid (PML-Q) leader and Federal Minister for Water Resources Monis Elahi.

    Reacting to the news, Prime Minister Imran Khan vowed to investigate all those Pakistanis mentioned in the Pandora Papers, and tweeted: “If any wrongdoing is established we will take appropriate action.”

    “We welcome the Pandora Papers exposing the ill-gotten wealth of elites, accumulated through tax evasion & corruption & laundered out to financial ‘havens’. The UN SG’s Panel FACTI calculated a staggering $7 trillion in stolen assets parked in largely offshore tax havens,” he wrote on his official Twitter handle.

    “I call on the international community to treat this grave injustice as similar to the climate change crisis,” he added.

    As per Geo News, Pandora Papers is a development to what has earlier been revealed in the Panama Papers and Paradise Papers, as per reports. 

    The ICIJ’s major investigation titled: “The Pandora Papers”, is said to be the result of 600 journalists in 117 countries studying for months roughly 11.9 million documents that leaked from the offshore environment.

    Journalist Umar Cheema, who was part of the ICIJ’s team investigating the Pandora Papers, said that the names of several Pakistanis were on the Pandora Papers, adding that people should wait for another day as the report will officially be released on October 3.

  • Fact check: Is Junaid Safdar’s name in Pandora Papers?

    Fact check: Is Junaid Safdar’s name in Pandora Papers?

    Claim: PMLN Leader Maryam Nawaz’s son Junaid Safdar’s name came up in the Pandora Papers.

    Fact:

    Following the revelations in the Pandora Papers, featuring names of Pakistan Tehreek-e-Insaf (PTI) ministers as well as Opposition members, some channels shared the news that Junaid Safdar, who is the son of Pakistan Muslim League-Nawaz (PML-N) leader Maryam Nawaz, also has five offshore companies registered in his name.

    As per reports, the government-run channel, Pakistan Television Network (PTV), aired the news of Junaid Safdar’s offshore companies.

    Prime Minister Imran Khan’s aide, Dr Shahbaz Gill, shared an image of PTV News with his tweet about Junaid Safdar’s offshore companies.

    Shahbaz Gill, while speaking on ARY News programme ‘Sawal Yeh Hai’, backed the news stating that PTV broke the news of Maryam Nawaz’s son owning offshore companies. “It is not possible that when it comes to theft or hiding information, we don’t see Maryam Baji’s [Maryam Nawaz’s] name there. Her son’s three to five companies have also been uncovered.”

    Information Minister Fawad Chaudhry also took to Twitter and tweeted, “The latest information is that there are five offshore companies in the name of Junaid Safdar, son of Maryam Nawaz. How much money does this family need?”

    Chaudhry also claimed the same in Nadia Mirza’s programme on Dawn News.

    In response to the news, which was shared by a section of the media quoting state-run PTV, Maryam Nawaz issued a statement saying that if the TV channel that ran the news does not apologise immediately, she will take them to court and file a defamation lawsuit.

    Responding to a suggestion by someone to seek legal action in the UK, she said that if the UK desk aired it, the family will sue them there too.

    However, Aoun Sahi from PTV — in response to senior journalist Nasim Zehra — refuted the claims of the news of Junaid Safdar being run on the channel and tweeted, “PTV hasn’t run the story. It’s photoshopped ma’am.”

    Umar Cheema and Fakhar Durrani, the two journalists from The News who participated in the Pandora Papers investigation from Pakistan, were asked by Geo News about Junaid Safdar’s name in the Pandora Papers. They both said they did not come across Junaid Safdar’s name during their investigation.

    “We checked the names of each member of the Sharif family,” Durrani said.

    Umar Cheema also tweeted that a Twitter account by the name of ‘PandoraLeaks’ is fake. The account tweeted: “Our research has found out that Junaid Safdar, grandson of former PM Nawaz Shareef has 3 shell and 2 offshore companies in Seychelles and Virgin Islands.”

    The account has since been deleted.

    The International Consortium of Investigative Journalists (ICIJ), which has been investigating international finance and tax havens, has released a detailed list of public figures with offshore companies called the ‘Pandora Papers’ as part of their new investigation.

    VERDICT: FAKE