ISLAMABAD: Prime MinisterNawaz Sharif on Thursday for the first time explicitly dismisseda report from a corruption investigation that raised questionsabout the source of his family´s wealth, rejecting it asslander.
Sharif, 67, serving his third term as prime minister, facesopposition calls to step down but he was defiant in hiscondemnation of the report that alleges his family´s income frombusiness was not large enough to explain its wealth.
A Joint Investigation Team (JIT), set up by the SupremeCourt to investigate corruption allegations that surfacedfollowing the Panama Papers leak, also accused his children,including heir apparent Maryam Sharif, of signing falsifieddocuments about ownership of off-shore companies.
"The JIT report about our family businesses is the sum ofhypotheses, accusations and slander," Sharif said in a statementafter meeting his cabinet.
"Accusations amounting to billions are being made here butno wrongdoing has been proven."The investigation team, which included officials from amilitary intelligence agency, presented its report to theSupreme Court on Monday.
Copies of it were then leaked to the media, prompting achorus of demands from political parties that he resign fromoffice.
"Nawaz´s authority is completely eroded," Shah MehmoodQureshi, vice chairman of the opposition PTI party, toldReuters.
"There is no legal, moral or political justification for himto continue."
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Sharif´s term expires in June 2018 and elections areexpected two months later.
If he were forced to step down, hisruling PML-N party could appoint a new leader as prime ministeruntil the polls.
Nevertheless, worries generated by the 254-page report hassent stocks tumbling amid fears of chaos after several years ofrelative stability and accelerating economic growth.
The economy expanded by 5.3 percent last fiscal year - itsfastest in a decade.Big infrastructure investment by China hasboosted growth while confidence has been buoyed by a decline inmilitant attacks.
After years of electricity shortages and cuts, power outageshave also been reduced but not eradicated.
Sharif said the economic progress made since his election in2013 showed the government was on the right track and anydisruption would only hurt progress.
"We will not let darkness once again prevail in our townsand factories," he said."Our family has gained nothing from the politics, in fact ithas lost a lot," Sharif said.