Leaked
confidential documents spanning over nearly 40 years that spell out the
extensive use of tax havens by politicians, world leaders and celebrities to
launder money and evade taxes through one of the most secretive companies the
Panamaian law firm Mossack Fonseca has taken the world by storm.
Many Pakistanis
have also been named in what has become known as the Panama Papers, The
documents identify many Pakistani business tycoons and politicians including
late two-time Prime Minister Benazir Bhutto as well certain members of the
ruling Sharif family (excluding PM Nawaz Sharif and his brother CM Punjab
Shahbaz Sharif) to have use tax havens to hide their wealth.
While most have
avoided the questions, the ruling Sharif family’s spokesman and the eldest son
of Pakistani Prime Minister Nawaz Sharif spoke to Geo News and explained his
position on offshore accounts.
He explained that
there was no need for him to hide his wealth in England adding that maintaining
offshore companies is a legal option available in various countries to avoid
paying unnecessary taxes.
Hussain told Geo
News that there are clauses present in Pakistan’s law that excuse him from
filing his tax returns since he left the country in 1992.
When asked about
offshore investments Hussain Nawaz Sharif responded that his family had been
engaged in industries for generations and the amount for investment came from
the sale of their steel mill in Jeddah in 2006.
Hussain Nawaz
Sharif made it clear that Nawaz Sharif and Shahbaz Sharif do not have any
assets or wealth or offshore companies abroad.
Responding to
allegations from Imran Khan, Hussain said his family was ready to voluntarily
appear before any investigation agency including the National Accountability
Bureau (NAB) to clarify their position. Clarifying his position in Geo News'
program 'Aaj Shahzeb Khanzada Kay Sath' Hussain responded to Imran Khan's
claims and said “Imran Khan says whatever comes to his mind.”
“Money did come
from Pakistan to meet our living expenses during the time of exile…but nothing
came from Pakistan to establish businesses abroad,” Hussain Nawaz said while
speaking in Geo News programme ‘Aaj Shahzeb Khanzada Kay Sath’.
He said no channel
or publication contacted him to seek any detail in connection with the
disclosures made in the Panama papers.
However, he said,
Umar Cheema, who is associated with The News International, had sent him emails
but he did not respond to those.
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