SC verdicts can affect Imran, other private sector people

ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) may have to face serious consequences following the Panama Papers litigation in the Supreme Court as four out of the five petitioners in the case, including Sheikh Rasheed, want strict accountability of all the offshore companies’ owners.

The Supreme Court is hearing five petitions on the Panama Papers filed by PTI chief Imran Khan, JI chief Sirajul Haq, APML chief Sheikh Rasheed Ahmed, Watan Party chief Barrister Zafarullah Khan and advocate Tariq Asad.

Asad Manzoor Butt, the lawyer of JI chief, Tariq Asad, Advocate, Barrister Zafarullah Khan and Sheikh Rasheed Ahmad explained to ‘The News’ the contents and prayers of their different petitions but agreed on one point that investigations must be carried out in cases of all the individuals who are reported to have offshore companies and wealth outside Pakistan. They agreed that without any discrimination whether they were named in the Panama Papers or in the leaks afterwards, all those individuals who owned offshore companies must be probed.

Sheikh Rasheed Ahmad told The News that basically his petition was against Prime Minister Nawaz Sharif that he had made a false statement in his tax returns and thus he should be disqualified with immediate effect. “If it is not done, the apex court must restore membership of all those nine MPs who are disqualified in recent past for making wrong declarations,” Sheikh Rasheed told The News. He said that in second part of his petition, he pleaded for thorough investigation of all those who are alleged to have offshore companies or foreign wealth.

Asad Manzoor Butt, lawyer of JI chief, while talking to The News said that the petition prayed for issuance of an order to three different institutions to carry out comprehensive investigation regarding offshore companies’ scandal. He said that the petition was filed in context of Panama Papers but it was obvious that it was against the offshore companies and that he would argue before the apex court that all those reported to have offshore companies must be investigated.

Barrister Zafarullah Khan of Watan Party told The News that he had suggested apex court through his petition that setting up of a judicial commission would not be a good idea and that the matter should be referred to a parliamentary committee. “I have argued that as superior judiciary conducts its accountability itself, the politicians should also be given an opportunity to carry out investigation into this issue,” Barrister Zafarullah said. He said that all those named to have offshore companies should be investigated.

Tariq Asad Advocate also told The News that he would argue before the apex court that all those people reported to have offshore companies whether in Panama Papers or afterwards must be investigated without any discrimination.

Panama Papers have revealed that two sons of Prime Minister Nawaz Sharif Hussain Nawaz and Hassan Nawaz and daughter Maryam Nawaz own offshore companies. Later it was also revealed that PTI chief who was running a protest campaign against offshore companies also has a hidden offshore company which was registered in Jersey, one of the notorious offshore jurisdictions in the world. It was also revealed that top PTI leader and its major financier Jehangir Khan Tareen also had a hidden offshore company which was never declared by him or his family members in Pakistan. Later other leaders of PTI were also found to have offshore companies and wealth outside Pakistan.

Panama Papers have revealed names of around five hundred Pakistanis who were having offshore companies in different tax havens including British Virgin Island, Bahamas, Jersey, Panama and many others. The revelations were based on data of a law firm Mossack Fonseca which was based in Panama. Only because the law firm which used to facilitate people to set up offshore companies was based in Panama, the leaks were named ‘Panama Papers’. 

There are politicians who still believe that Panama Papers contain details of offshore companies based in Panama. However, as a matter of fact, majority of offshore companies mentioned in Panama Papers are not based in Panama. When hidden offshore company of PTI chief Imran Khan was exposed, he pleaded before his followers that he was against offshore companies based in Panama as ill-gotten money is parked in destinations like Panama. As a matter of fact there is no difference whatsoever in case of offshore companies of the members of Prime Minister Nawaz Sharif family or the offshore companies of PTI chief Imran Khan, Jehangir Khan Tareen and others. Nawaz Sharif and Jehangir Tareen are top public office holders and Imran Khan is also representing Pakistan internationally and thus all are answerable to Pakistani institutions for their offshore wealth.