Panama paper leaks not only rocked the house of Pakistan’s Prime Minister Nawaz Sharif but also shaken the confidence of some of the world’s strong and powerful people. Within 24 hours we have seen some major changes in the world politics and on top of it, the most important news came from the Iceland where Prime Minister Sigmundur David Gunnlaugsson was forced to resign after wider public call.
If we have look into Pakistan’s politics, Prime Minister Nawaz Sharif was forced to appear on national television screens with an address to nation and presented himself and his family members in front of public and announced to form a powerful judicial commission headed by retired Supreme Court judge to probe all the matter. During the address to the nation, Prime Minister clarified his position and said that certain individuals indulged into the political point scoring. While announcing Judicial Commission the prime minister invited his entire opponent to present evidences of his and his family’s wrong doings.
Immediately after the Prime Minister’s address to the Nation, Nawaz Sharif’s daughter Mariyam Nawaz came out with his tweet message and stated that despite of no allegations of wrong doings or illegality, PM Sharif presents him and his family for accountability, now prove or apologize.
Despite no allegations of wrongdoing or illegality, PM Sharif presents himself & family for accountability. Now prove or apologise.
— Maryam Nawaz Sharif (@MaryamNSharif) April 5, 2016
This is not as simple, in Pakistan all opposition parties spoke against the leader of ruling PML N’s leader Nawaz Sharif and there were also some voices asking Prime Minister to step down. The louder voice came from Pakistan Tehreek e Insaaf leader Imran Khan who demanded investigation against the Sharif family. While addressing a press conference Imran Khan highlighted that leaks cannot be taken as conspiracy against Prime Minister as the Panama is a place where all the money of corruption will be kept in offshore accounts. He also repeated his concerns and stated that if he is the ruler of the country he will throw every one responsible behind the bars.
However, leadership of Pakistan’s People Party also remained on the front foot while criticizing the Prime Minister and his family. Barrister Aitzaz Ahsan of PPP demanded Prime Minister’s resignation and full inquiry into Panama Paper leaks.
Panama papers refer to 11 million documents connected with Panama law firm Mossack Fonseca and these eleven million documents span over last four decades of offshore accounts. These papers were published and investigated by International Consortium of Investigative Journalists and international coalition of media outlets.
Panama Papers allegedly revealed documents of close associates of Russian President Vladimir Putin, documents also show that Ian Cameron, the late father of UK Prime Minister David Cameron was a Mossack Fonseca client.
Family members of China’s Present Xi Jinping were also named in the leaked documents.
Ukrine’s President was indicated as the owner of offshore companies.
Pakistan’s Prime Minister son Hussain Nawaz was shown to own real estate through offshore entities.
All major countries including France, Austria, Argentina, Azerbaijan and India have initiated inquiries into money laundering and tax fraud.
According to The Guardian, using offshore structures is entirely legal.