Daily Times

ISLAMABAD: National Assembly (NA) Public Accounts Committee (PAC) has sought an explanation from NAB chairman and the Federal Board of Revenue (FBR) for not conducting investigations into disclosures made in the Panama leaks about offshore companies owned by over 600 Pakistanis.

This explanation has been sought by PAC on the application filed by PTI MNA and PAC member Arif Alvi. PAC has issued notices to the concerned parties for seeking explanations from them. PML-N law makers including Raja Javed Ikhlas, Sheikh Rohail Asghar, Chaudhry Junaid and Arshid Laghari, who are members of PAC, did not oppose this application during the meeting on Friday.

The sitting chairman of FBR Nisar Khan told the meeting that FBR was carrying out an investigation regarding offshore companies. PTI leader and MNA Arif Alvi said off shore companies owned by 600 Pakistanis have been disclosed in Panama leaks and Prime Minister (PM) Nawaz Sharif family takes pride of place among them. He said the money plundered from Pakistan was stashed in these off shore companies, but it was matter of regret that this issue was being used for political point scoring. It was the responsibility of NAB, FBR and Security Exchange Commission of Pakistan (SECP) to probe these companies, but they were suspiciously quiet about it.

He said that India had launched investigations into Panama leaks but the politicians in Pakistan were unable to even agree on the Terms of Reference (ToRs), which was a national tragedy. He further said in his application that it should be asked of NAB, FBR and SECP what preparations had been made by them to probe into the matters of offshore companies. He accused the government was using all possible delaying tactics. International institutions like the World Bank were ready to help Pakistan carry out investigations into the Panama Leaks matter, but the government rebuffed such offers of assistance so far.

PAC has sought an explanation from chairman NAB, FBR and SECP on the written application of Arif Alvi and summoned the concerned officers in the next meeting.