Fawad hopes Pandora Papers will reinforce PM Imran's stance against money laundering

Says premier has urged international community multiple times to discourage practice of money laundering


News Desk October 03, 2021
Information Minister Fawad Chaudhry is addressing a press conference in Islamabad on July 27. PHOTO: PID

ISLAMABAD:

Information Minister Fawad Chaudhry hoped that the Pandora Papers, expected to expose the financial secrets of the global elite later on Sunday, will strengthen Prime Minister Imran Khan's stance against money laundering.

 

In a statement on Twitter, Fawad said that if the Pandora Papers, like the Panama Papers, are going to shed light on how money is laundered from poor countries to tax havens then this will further reinforce Prime Minister Imran Khan's stance against money laundering.

He said that the premier has urged the international community multiple times to discourage the practice of money laundering through which the wealth stolen from poor countries is parked in rich states.

 

The information minister hoped that like the Panama Papers, these leaks will also open new ways to ensure transparency in financial practices and will help in the fight against corrupt practices.

Pandora Papers

The world is all set to dive into the Pandora's box of offshore finances as a new investigation by the International Consortium of Investigative Journalists (ICIJ) into international finance and tax havens will be released to the public at 9:30 pm on Sunday.

The ICIJ’s major investigation titled: “The Pandora Papers”, is said to be the result of 600 journalists in 117 countries studying for months roughly 11.9 million documents that leaked from the offshore environment. The countdown has begun as the names of several Pakistanis are said to be on the Pandora Papers.

Late on Saturday, the ICIJ announced that it was going to release the “most expansive exposé of financial secrecy yet”. In 2016, ICIJ had released the Panama Papers, which took the world by storm and eventually led to the downfall of governments, including that of Nawaz Sharif.

The mega research into the financial world’s hidden secrets is expected to explain what some of the rich in the world did to hide their wealth and evade taxes from the states. The Panama Papers was a giant leak of more than 11.5 million financial and legal records exposing a system that enables crime, corruption and wrongdoing, hidden by secretive offshore companies.

Reportedly, the Pandora Papers is a result of the new massive leak of financial files that exposes how the global elite transfers money to tax havens by secret companies. It is said that the investigation will show the tax evasion of hundreds of former and current world leaders, businessmen, celebrities, fugitives and judges.

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