NAB Directed to Collect Data of Pak Owned Offshore Companies.

The Chairman National Accountability Bureau has directed the officials to collect detailed information of offshore companies owned by the Pakistani businessmen from Security Exchange of Commission of Pakistan (SECP), State Bank of Pakistan (SBP) and Federal Board of Revenue (FBR).
The decision was taken in a NAB’s high ups meeting held with the chair of Chairman Justice retired Javed Iqbal and reviewed the offshore companies of Pakistanis established in Panama and Virgin Island.
Directing to officials, NAB Chairman Javed Iqbal said that officials should review the companies record stressing had those companies caused the loss of national exchequer through money laundering.“The inquiry against the offshore companies should be conducted as per law and on merit setting aside each kind of influence and favouritism,” he said.
According to NAB release 435 offshore companies owned by Pakistanis established in Panama and Virgin Island. Some the prominent businessmen former chairman FBR Abdullah Yousaf, Shyan Abdullah, Usman Yousaf and others have their offshore companies.