Scope of probe into offshore companies expanded

ISLAMABAD: The government, as mentioned in the Inquiries Commission Act 2016 tabled in the National Assembly, has decided in principle to expand the scope of investigation into the offshore companies.

A federal minister privy to the development confided to The News that not only companies mentioned in the PanamaLeaks but also investment in offshore companies all over the world and foreign currency accounts maintained in the EU, the UK, the US and some African countries would be investigated.

In the second phase, corruption cases and loans written off from time to time will also be questioned by the SBP and FIA, he disclosed.The FBR has started questioning the owners who have invested in offshore companies mentioned in the PanamaLeaks creating ripples in national politics. But at the same time the bureau is also questioning those who have established offshore companies in countries other than Panama.

It is not clear whether the decision to write letters comprising 10 questions to the PTI and PML-Q leadership is political or just the beginning of a long list of offshore companies’ owners. But the fact is this that letters have been sent to Imran Khan, Jehangir Tareen, his children, Aleem Khan and Moonis Elahi, son of PML-Q leader Ch Pervez Elahi.

It may be out of context in this story but it has been learnt that the Chaudhrys of Gujrat are being given an important role to play in the opposition in the coming days. So Moonis Elahi will have to answer questions about investment in offshore companies, if he has any.

In the coming days, more politicians, industrialists, traders and bureaucrats will receive such letters as soon as the FBR gets their addresses, as their CNIC numbers are not mentioned in their offshore companies accounts.