Existence and purpose of offshore companies clarified

ISLAMABAD: This is with reference to a story entitled, “Pak politicians, businessmen own companies abroad” published on April 4. Among others, the report named Azam Sultan and family owning five companies registered in Panama. A family member showed documents to The News though confirmed the companies existed, it indicates that three of them were dissolved some years ago.

Following are the names of non-functional entities: Salateen International Corporation, Wheaten Enterprises Inc. and ABM Worldwide Technologies. Moreover, the article incorrectly stated Moazam Sultan as the son of Azam Sultan. Moazam is brother of Azam.  Another company mentioned in the report, Sasons International Corporation, is still operational and owned by Moazam Sultan, a UK-resident.  Sasons is used exclusively for the sale of goods and services to security departments in Pakistan. ABM Worldwide Technologies, now inactive, was also used in the national interest, a family member said.