Shaukat Tarin, Moonis Elahi among over 700 Pakistanis named in ICIJ's 'Pandora Papers'

 

ISLAMABAD, OCT 3: The International Consortium of Investigative Journalists (ICIJ) on Sunday unveiled “Pandora Papers” — a major international research into the financial secrets held by high-profile individuals around the world.

From Pakistan, investigative journalists Umar Cheema and Fakhar Durrani of The News International were part of the investigation.

Geo News reported that more than 700 Pakistanis have been named in the exposé.

The publication also named Senator Faisal Vawda, Ishaq Dar’s son, PPP’s Sharjeel Memon, the family of Minister for Industries and Production Khusro Bakhtiar, PTI leader Abdul Aleem Khan, among others, among those with alleged links to offshore companies.

The ICIJ released a report on the Pandora Papers titled "Prime Minister Imran Khan promised ‘new Pakistan’ but members of his inner circle secretly moved millions offshore."

According to the report, leaked documents revealed that "key members" of Prime Minister Imran's inner circle, including cabinet ministers, their families and major financial backers "have secretly owned an array of companies and trusts holding millions of dollars of hidden wealth".

"Military leaders have been implicated as well," it said, clarifying that the documents contained "no suggestion" that Imran himself owned offshore companies.

Among those named as holding foreign assets are Finance Minister Shaukat Tarin, his family, and the son of Prime Minister Imran's former adviser for finance and revenue, Waqar Masood Khan.

"The records also reveal the offshore dealings of a top PTI donor, Arif Naqvi, who is facing fraud charges in the United States," the ICIJ said.

Allegations against Moonis Elahi

The files show how PML-Q leader Chaudhry Moonis Elahi, "a key political ally of Imran Khan’s, planned to put the proceeds from an allegedly corrupt business deal into a secret trust, concealing them from Pakistan’s tax authorities", according to the consortium.

A family spokesman for the Elahi family told ICIJ’s media partners that, “due to political victimisation misleading interpretations and data have been circulated in files for nefarious reasons.” He maintained that the family’s assets “are declared as per applicable law”.

The investigation also revealed that "a luxury London apartment was transferred from the son of a famous Indian movie director to the wife of a three-star general". This was "one of several offshore holdings involving military leaders and their families", the ICIJ said.

The general told ICIJ the property purchase was disclosed and proper; his wife did not reply.

Over 600 reporters, 117 countries

According to the consortium, the Pandora Papers is its most expansive exposé of financial secrecy yet, even larger than its predecessor, the explosive Panama Papers, which had set off alarm bells across the world.

More than 600 reporters from around the world, belonging to 150 media organisations spanning 117 countries, participated in the research for two years for the Pandora Papers, which contain 11.9 million files.

According to a Geo report, Pandora Papers are larger than the Panama Papers in terms of data collection and collaboration, made possible by the largest research team in the history of journalism in the world.

Earlier today, Information Minister Fawad Chaudhry said details revealed in the Pandora Papers would "further strengthen" Prime Minister Imran Khan's stance.

"Panama Papers revealed offshore assets of very corrupt people. Now another research of ICIJ is coming. PM Imran stressed upon rich countries that hiding of poor countries' money in rich countries should be discouraged," he said in a tweet.

When details of money being moved from poor countries to rich countries are shared through Pandora Papers, like the Panama Papers previously, it would "further strengthen" PM Imran's stance, he added.

Special Assistant to the Prime Minister on Political Communication Dr Shahbaz Gill, meanwhile, said: "Prime Minister Imran Khan has no offshore company."

Addressing a gathering in Faisalabad, Gill stressed that if any other member of the government was found to have hidden offshore assets, they would have to answer for themselves. "Everyone has to go into their own grave," he said.

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