Bahamas Leaks: 150 Pakistanis own offshore firms

Bahamas Leaks: 150 Pakistanis own offshore firms

KARACHI: While Pakistani political parties are struggling to probe into the Panamagate scandal, another cache
of leaked documents has revealed tax heaven of elite, carrying names of 150 Pakistanis who own companies in
the Bahamas, a constellation of over 700 islands (Panama leaks Pakistan).

The investigation is based on leak of 1.3 million internal files from the company register of the Bahamas, one of the
world’s most notorious tax havens.

Furthermore, the data has brought to light details of the financial interests of politicians, entrepreneurs,
financiers – and fraudsters.

Five months after the release of the Panama leaks Pakistan Papers, this new cache of information from the world of
offshore tax havens contains the names of directors and some shareholders at nearly 176,000 shell
companies, trusts and foundations.

The data was received by the German newspaper Süddeutsche Zeitung, and will be shared with the public in a
Bahamas leaks database, built by the International Consortium of Investigative Journalists (ICIJ) in Washington
and also launched on Wednesday.

The Bahamas leaks, published by the Guardian, reveal that several Pakistani companies are registered in the
Caribbean tax haven of Bahamas.

In a statement, the ICIJ also said the new “revelations” were also published by news organisations in Europe,
South America, Asia and Africa.

A brief detail was also shared by different media sources suggested that about 150 Pakistanis have been identified as
directors of nearly 70 companies, out of 175,000 firms incorporated in the Bahamas between 1959 and 2016.

Among the Pakistanis, Jibran Khan, son of former federal minister Mohammad Naseer Khan, has been
named in the ‘Bahamas leaks’, while the name of former Jamaat-e-Islami senator Professor Khursheed Ahmad
is also found in the fresh data as director of a registered bank in Miami.

Obaid Altaf Khanani, Samina Durrani and Karachi-based builder Mohsin Sheikhani also own offshore companies.

Written by 

Related posts

Leave a Comment

error: Content is protected !!