Islamabad June 24 (TNS): As Prime Minister Nawaz Sharif is appearing before the all-powerful Joint Investigation Team (JIT) on Thursday to testify about his foreign property, which, his detractors allege, he has been purchased through tax evasion and money-laundering, his younger brother and Punjab Chief Minister Shahbaz Sharif is appearing before the probe team on Saturday, and his son-in-law and Member National Assembly Capt (retd) Muhammad Safdar will appear on June 24.
Sources said that the JIT has issued summons to all the persons it is intending to investigate in the Panama Papers scam that, for the first time, exposed several Pakistani politicians and business men’s offshore companies and black wealth stashed in banks of the Republic of Panama.
Prime minister’s both sons Hassan and Hussain Nawaz have already furnished their records and recorded their statements.
In April 2016, a huge leak of documents by the International Consortium of Investigative Journalists (ICIJ) has lifted the lid on how the rich and powerful use tax havens to hide their wealth. The files were leaked from one of the world’s most secretive companies, a Panamanian law firm called Mossack Fonseca.
The files show how Mossack Fonseca clients were able to launder money, dodge sanctions and avoid tax.
There are links to 12 current or former heads of state and government in the data, including dictators accused of looting their own countries.
More than 60 relatives and associates of heads of state and other politicians are also implicated in the Panama Papers.
Eight off-shore companies were reported to have links with the family of Prime Minister Sharif and his brother Shahbaz Sharif.
According to documents available on the ICIJ website, the prime minister’s children Maryam, Hassan and Hussain “were owners or had the right to authorise transactions for several companies”.
The leaks breathe a new life into allegations of corruption that the Sharif family has long been haunted by.
Also mentioned are the brother-in-law of China’s President Xi Jinping; Ukraine President Petro Poroshenko; Argentina President Mauricio Macri; the late father of former UK Prime Minister David Cameron and three of the four children of Prime Minister Nawaz Sharif.