- Background
The Panama Papers are 11.5 million leaked documents that detail financial and attorney–client information for more than 214,488 offshore entities. The Panama Papers are the largest data leak journalists have ever worked with.
These leaked documents have dethroned many of the world's political leaders which include Prime Ministers of Iceland, the United Kingdom among others.
Big guns revealed to have been involved in offshore entities
- Sharif Family and Panama Papers
Nawaz Sharif, the current Prime Minister of Pakistan is under a continuous legal process as he and his children are involved in owning properties abroad mainly in London.
The Supreme Court of Pakistan had ordered an investigation into their affairs by a joint team of civil and military investigation agencies called the JIT (Joint Investigation Team). The JIT submitted its report after 2 months of continuous probe into the matter and declared the Sharif Family guilty after the members of Sharif family failed to satisfy the JIT on their queries into the matter.
Picture showing Nawaz Sharif, Maryam Nawaz, Hussain Nawaz, Hassan Nawaz
- Latest Developments
Courtesy: Samaa News
A three-judge bench of the Supreme Court reserved its judgment in Panama Papers case involving the offshore assets of Prime Minister Nawaz Sharif and his children on Friday. The three-member bench headed by Justice Ejaz Afzal and including Justices Sheikh Azmat Saeed and Ijazul Ahsan reserved its judgment leaving the nation to wonder about the fate of the prime minister for at least a few days more. Earlier on Friday morning, the bench resumed its hearing into the high-profile Panama Papers case involving offshore assets of Prime Minister Nawaz Sharif and his children. Salman Akram Raja, the lawyer of Hassan Nawaz and Hussain Nawaz continued his arguments as the hearing begun. Later, Ishaq Dar’s lawyer Tariq Hassan, Akbar Tarar, the Acting Prosecutor General National Accountability Bureau (NAB) and PTI’s counsel Naeem Bukhari contended before the bench.
At the completion of the arguments, the apex court reserved its ruling in the case. After filing objections over JIT, the Sharif family has submitted fresh documents as proofs of assets.However, the bench raised questions over authenticity of the documents, observing that the documents may be fake.The JIT has recommended filing of a reference against PM Nawaz Sharif, his daughter Maryam Nawaz and sons Hassan Nawaz and Hussain Nawaz.
- Imran Khan
Imran Khan, the leader of the mainstream opposition party of Pakistan i.e. The Pakistan Tehreek-e-Insaf is the key man behind all this probe. The matter would have been buried then and there but it was Mr. Khan who kept things in the limelight and arranged massive rallies across the country seeking accountability of Sharif and his family.
Imran Khan addressing an anti-Nawaz rally at Bahwalpur on Panama Papers issue
Imran Khan, Leader of Opposition (PTI Chief)
- Possible Outcomes
It is one of the greatest probabilities that The Supreme Court of Pakistan orders disqualification of Nawaz Sharif. In this case, Sharif would lose grip on his party and the party might break into different factions. Sharif's disqualification is going to be a major step towards strengthening the democracy and accountability. It is heard that Mr. Sharif might resign before facing disqualification from the judiciary. However, whatever the outcome might be, one thing is clear that "Corruption is a menace that nobody wants to bear".
The Sharif Family subject to Panamagate Probe