General

NAB chief directs inquiry into 435 offshore companies owned by Pakistanis

National Accountability Bureau (NAB) Chairman Justice (retd) Javed Iqbal, taking notice of 435 offshore companies of Pakistanis in Panama and British Virgin Island, on Tuesday directed immediate inquiry into the matter.
Iqbal directed the bureau to investigate the matter without any pressure or influence, a press statement said.
The chairman also directed the bureau to approach the Federal Bureau of Revenue (FBR), State Bank of Pakistan (SBP), Security and Exchange Commission of Pakistan (SECP) and Federal Investigation Agency (FIA) to collect information regarding the offshore companies.
Pakistan Tehreek-e-Insaaf’s leader Aleem Khan is one of the political notables mentioned in the list. Khan is mentioned as the owner of a company.
Former chairman of FBR, Abdullah Yousaf, and his family are also included among those who have an offshore companies in the British Virgin Islands and Panama.
In April last year, the ICIJ had revealed names throughout the world, including of Pakistani politicians, businessmen, bankers as well as a serving high court judge and a retired judge, who were reported to have offshore companies. Over 400 Pakistanis were identified in the Panama Papers to have offshore companies.