A large number of big companies around the world legally keep the bulk of their funds in offshore companies. This is done to safeguard their existence. In case due to some miscalculations the company incurs a big loss, they need to have space to negotiate settlement terms. Otherwise, they are in danger of bankruptcy. Not all offshore companies are established to hide illegally procured wealth.
If I were involved in the volatile Pakistani politics, I would certainly encourage my children to work and keep their money abroad. With certain emotionally-charged Pakistani politicians, one never knows what is waiting around the corner for you, especially in the light of what happened to some top politicians in October 1999. Two generations of hard work, wealth and property gone suddenly. What will any clear thinking person do under these circumstances?
Asad A Khan
London
UK
*****
This refers to the news report, ‘Imran should go to UK court instead of hurling allegations, says Pervaiz Rashid’ (April 5). Hasan and Husain Nawaz Sharif did not earn the money that they invested. It is money taken out illegally from our country, without declaring it.
Apparently, there is no record that the Sharifs declared their money in Pakistan or paid taxes on these earnings. Therefore, Imran Khan does not have to sue them in England. It is the duty of NAB to investigate Nawaz Sharif. He should resign for the period till the investigation is completed to avoid even the shadow of influence/peddling in the investigation process.
Z Hussain
Moncton
Canada