WikiLeaks on the hidden wealth of top nations leadership that started from the Panama Papers are the hot discussion on every TV screen and from domestic to international media. The credibility of those charged with the governance of the legislation of the country is at stake now.
A couple of days before released Panama Papers has told the world how the white collar persons, leaders, and those known as the so-called reshaper of the world are thoroughly enjoying the term tax relief, tax evasion, and tax theft.
Sharif Family of Pakistan that is also listed in the leading business class is also in the trouble because many officials of the Sharif Family found involved in crime, corruption and wrongdoing, hidden by secretive offshore companies.
Pakistani Prime Minister Nawaz Sharif is itself not engaged in the business of offshore companies of Panama. But as for the concern of his family and close family members, yes they are involved in these criminal activities.
According to Panama Papers, “The children of Pakistani Prime Minister Nawaz Sharif also owned London real estate through companies created by Mossack Fonseca (offshore company), the law firm’s records show.”
It is important to mention here that representatives of Pakistani leadership did not respond to requests for comments. Pakistan Tehreek-e-Insaf Chairman Imran Khan is continuously demanding from FBR, FIA and ECP to start the investigation against alleged relation of Sharif Family with Panama’s offshore company Mossack Fonseca.
What are Offshore Companies?
The concept of the offshore company is very popular in South America. Mossack Fonseca is also an offshore company. These companies attract the investors on the name of tax-free investment. Any person with handsome amount can make a company in Panama, open bank account and invest as much amount as he can, and the government never asked for the source of income. These offshore companies deal with these persons and do business in the other states and countries on the behalf of money invested in these offshore companies.
Initially, the record of almost two hundred Pakistani families has been spotted in which most popular one are Bhutto Family, Sharif Family, Chaudhary Brothers, Saifullah Family, and many others. In Sharif family, both sons of Nawaz Sharif, Hussain & Hassan Nawaz, Daughter Maryam Nawaz, Wife of Shahbaz Sharif Tehmena Durani and Brother in Law Illyas Miraj are involved.
Sharif Family Members Accused for Involving in Offshore Companies
The Panama Papers is said to be the one of the biggest leaks and largest collaborative investigations in journalism history.
The Panama Papers [Video]