Latest news

Panama Papers:NAB team directed to expedite inquiry into 435 offshore companies

January 19, 2018 at 6:18 pm

ISLAMABAD: The Chairman of the National Accountability Bureau (NAB), Justice (retd) Javed Iqbal, while reviewing the preliminary inquiry report of 435 offshore companies owned by 435 Pakistanis in Panama and British Virgin Islands, directed to expedite the process of getting information and record from the State Bank of Pakistan (SBP), Security and Exchange Commission of Pakistan (SECP) and Federal Board of Revenue (FBR) sans sustaining any duress.

The NAB chairman on Thursday chaired a meeting to review the preliminary inquiry report of 435 offshore companies owned by Pakistanis in Panama and British Virgin Islands at the NAB headquarters. He directed that the inquiry should be concluded in accordance with merit and in the light of law and evidence.

The offshore companies of former chairman FBR Abdullah Yousaf were also included in the list of offshore companies owned by 435 Pakistanis whose names were leaked in the Panama Papers. The FBR’s ex-chairman owns Green Deal Management, Greenwood Investor while his sons Shahid Abdullah and Shayan Abdullah own Greenwood Investor and Usman Yousaf owns Malboro and six companies of Ameer Abdullah are also included.

The NAB chairman directed officials of the Bureau to get information and record of the offshore companies of other Pakistanis at the earliest and to find reasons for establishing offshore companies, their sources of income including money trail and money transferred abroad through banking channels or money laundering. The NAB chairman further directed the NAB investigation team to find whether the national exchequer had been looted or inflicted heavy damage through corruption.

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent News

Decision being announced in an
ISLAMABAD: Ex-prime minister Nawaz Sharif on Thursday said that decisions against him are being announced in anger, revenge and are person specific. Talking to media outside the accountability cour...
February 22, 2018 Read More
Cm alleges federal govt of ste
KARACHI: Sindh Chief Miniser Syed Murad Ali Shah Thursday gave guidelines to his team to control non-development expenditures and asked to increase an allocation in social sector. He recommended th...
February 22, 2018 Read More
Khan attempts to reignite cont
The day after his arch-rival, the erstwhile chief of the PML-N Nawaz Sharif, was ousted from his party's presidency, Pakistan Tehreek-i-Insaf (PTI) chief Imran Khan asked why an enquiry report on a co...
February 22, 2018 Read More
PML-N’s Senate nominees
ISLAMABAD: All Pakistan Muslim League-Nawaz (PML-N) candidates, who had filed nomination papers for March 3 Senate polls singed by former prime minister Nawaz Sharif, would be considered as independen...
February 22, 2018 Read More
Pak condemns India over ceasef
ISLAMABAD: One person was martyred in unprovoked firing by the Indian troops across Line of Control in Rawalakot/Satwal Sector on Thursday. According to a statement issued by the Foreign Office, th...
February 22, 2018 Read More
Army kills two indian soldiers
Islamabad - Pakistan Army has killed two Indian soldiers, moments after a boy was martyred along the Line of Control (LoC). “Pakistan Army troops neutralised Indian post which targeted a minor al...
February 19, 2018 Read More
Sindh cabinet takes important
KARACHI: Sindh Cabinet after thoroughly discussions have taken some important decisions which include of Sindh Accountability Agency, repeal of removal from Service Ordinance, enhancement of different...
February 19, 2018 Read More
SC issues show-cause notice to
ISLAMABAD: The Supreme Court issued on Monday a show-cause notice to Federal Privatisation Minister Daniyal Aziz in the contempt of court case against him. A three-member bench headed by Justice Sh...
February 19, 2018 Read More