Benami transactions are common in Pakistan and India for various reasons such as to hide illegal money or to evade taxes. In the case of the Panama leaks, the irregularities are quite obvious. It appears to be a family benami venture. Here some legal questions arise: what was the source of investment? What was the reason behind going for benamidars, etc?
Above all, it does not bode well for a country that its chief executive has allegedly invested his wealth abroad rather than in his own country, and pays almost negligible income tax. Charity begins at home. Honesty demands that our prime minister should offer himself up for accountability first.
Mazhar Butt
Karachi
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