'Panama leaks have made no allegations of wrongdoing against Sharif family'

Published: April 4, 2016
None of the corporations mentioned are owned or run by Nawaz Sharif; says official statement. PHOTO: AFP

None of the corporations mentioned are owned or run by Nawaz Sharif; says official statement. PHOTO: AFP

ISLAMABAD: Sharif family on Monday responded to the allegations regarding the ownership of companies as Panama Papers exposed secretive assets of the world’s most powerful personalities.

“Panama leaks and ICIJ have made no allegations of wrongdoing against the Sharif family. None of the corporations mentioned are owned or run by Nawaz Sharif,” said a statement issued by the Sharif family.

“All of the corporations owned by the Sharif family (by Hussain and Hasan Nawaz) are legal and financially sound,” it added.

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“Hussain Sharif and Hassan Sharif have been diligently filling their company reports and tax returns in their legal and tax jurisdictions,” the statement said.

It added that “Maryam Nawaz Sharif is not a beneficiary or owner of any of these companies nor has she received any income or financial benefits that warrant tax disclosure or implications.”

A massive leak of 11.5 million tax documents on Sunday exposed the secret offshore dealings of world leaders and celebrities.

Panama Papers: Huge tax leak exposes Putin aides, world leaders, stars

Among those named were three of Nawaz’s three children — Maryam, who has been tipped to be his political successor; Hasan and Hussain, with the records showing they owned London real estate through offshore companies administrated by the firm.

An investigation into the documents by more than 100 media groups, described as one of the largest such probes in history, revealed the hidden offshore dealings in the assets of around 140 political figures — including 12 current or former heads of state.

Nawaz’s son owns London apartment, offshore companies

The vast stash of records was obtained from an anonymous source by German daily Sueddeutsche Zeitung and shared with media worldwide by the International Consortium of Investigative Journalists (ICIJ).

The documents, from around 214,000 offshore entities, came from Mossack Fonseca, a Panama-based law firm with offices in more than 35 countries.

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Reader Comments (14)

  • raider
    Apr 4, 2016 - 11:01PM

    now, it is high time to run print and electronic media campaign comprising justifications of money to get yourself cleansed of this scam.Recommend

  • raider
    Apr 4, 2016 - 11:03PM

    yes off course, these are not allegations but facts, not bad guys keep it upRecommend

  • mustafa ahmed
    Apr 4, 2016 - 11:38PM

    all is well.Recommend

  • Ussama Yaqub
    Apr 4, 2016 - 11:56PM

    The question mainly here is not that of legality, it is simply the fact that the world’s wealthiest and most powerful members of society shield their financial assets from taxation (and in many cases bankruptcy settlement) by taking advantage of shell companies and tax havens.

    People have to read how this impacts our lives. It creates income inequality, raises taxes of working people, it depletes the coffers of governments thereby denying benefits to taxpayers, contributes to wage stagnation, crumbling infrastructure etc. In-case of Pakistan, we are talking about low government spending on social security such as health, education, old age benefits etc. Stop hiding behind technical financial jargon and legal lingo! I am sure Sharif’s can afford best financial lawyers to spin this into any which-way they want!Recommend

  • Rex Minor
    Apr 5, 2016 - 12:56AM

    This is not the beginning but the finali, the sharifs claim to be the non residents owner of the assets in the UK and therefore not liable for UK taxation since their company is registered in Panama where they are also non residents and not liable for taxation and without doubt they do not pay taxes in Pakistan since they do not reside there as well.
    Bravo, it is time that they explain the source of their wealth?

    Rex MinorRecommend

  • Sodomite
    Apr 5, 2016 - 1:03AM

    No more could have been expected of a looter?? Judges were also listed in these reports. Goes to show we need Raheel Shareef to run the country. Recommend

  • European
    Apr 5, 2016 - 2:05AM

    Why are NS’s sons residents of Saudi Arabia and UK? Why don’t they live in Pakistan?Recommend

  • freed
    Apr 5, 2016 - 3:40AM

    For certain family everything is legal in pakistan. Laws can changed retroactively if needed but it will be always legal. Recommend

  • Naeem khan
    Apr 5, 2016 - 4:46AM

    Before General Zia, the Sharifs were non entity. How they amassed wealth is surely be looked into. On second thought Pakistanis deserve what they have in the NA and Provincial Assemblies. You people put them there, so now lump it.Recommend

  • Anomic
    Apr 5, 2016 - 6:48AM

    Ah just just look at Zam Zam cleansed angles; innocence is dripping from every pore of their angelic faces!Recommend

  • k
    Apr 5, 2016 - 8:17AM

    in india action are started aganits the name holder,as per sharif,he declair himself innocent without any procecutionRecommend

  • Ved
    Apr 5, 2016 - 3:37PM

    we appeal to goverment, judiciary and forces would have to take a immediate re_action aginst these culprits.Recommend

  • Rex Minor
    Apr 5, 2016 - 4:55PM

    @Naeem khan:

    How they amassed wealth is surely be looked into.

    This is self explanatory, since it is a fact known among the weapon supplying countries that they are required to pay a fee to the middle men in Pakistan when a contract is realised..

    Rex MinorRecommend

  • Waqas
    Apr 6, 2016 - 6:18PM

    Not a supporter of NS. But if he try to avoid taxes while doing business in countries other than Pak, the allegations doesn’t have any legal weight but also moral weight of allegations is questionable.Recommend

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