ISLAMABAD: Speaker National Assembly Sardar Ayaz Sadiq on Tuesday constituted a 12-member Parliamentary Committee on the Panama Papers. The Speaker constituted the Parliamentary Committee in pursuance of the motion adopted by the National Assembly on May 19 and the Senate on May 20. The 12-member Committee comprises six members of the treasury benches and six of the opposition benches from both the Houses. The Committee has been mandated with considering various options for inquiring into important issues raised in the controversy over the “Panama Papers” and other reports in the media related to off-shore companies, transfer of funds and written-off bank loans. It would also formulate the ToRs of such a forum and determine the timeline for the submission of the report. The Speaker has been authorised to replace any member of the Committee on the request of the leader of the Parliamentary Party concerned. The notification has specified a period of two weeks for the Committee to submit its report to the Parliament. The members of the Committee are Senator Ishaq Dar, Senator Aitzaz Ahsan, Senator Mir Hasil Khan Bizenjo, Senator Ali Khan Saif, Senator Ilyas Ahmad Balour, Khawaja Asif, MNA, Khawaja Saad Rafique, MNA Akram Khan Durrani, MNA Anusha Rehman Khan Advocate, MNA Shah Mahmood Qureshi, MNA Sahibzada Tariq Ullah and MNA Ch Tariq Bashir Cheema. The first meeting of the Committee will be held today (Wednesday).