LONDON – Labeled the expansive exposé of financial secrecy after the release of ICIJ’s Panama Papers in 2016", the 'Pandora Papers' revealed names of around 700 Pakistanis including Ali Dar – the son of former finance minister Ishaq Dar.
After being featured in the latest expose, Dar, who is currently n Middle East, issued a detailed note about the offshore companies.
In a statement on his official Twitter, Dar confirmed that he already replied to the Pakistani journalist who was part of the investigative team. “I had replied with a detailed account of companies when Umar Cheema had sent me an email in relation to the Pandora Papers investigation”, he said.
عمرچیمہ صاحب نے جب #PandoraPapers کے حوالے سےسوالات بھیجے تو انکو مندرجہ ذیل تفصیلی جواب بزریعہ email بھیج دیاتھا۔کمپنیز بالکل قانونی تھیں اور قانونی مقاصد ہی کےلئیے بنی تھیں۔میں گراجویشن کے بعد سے UAE میں سیٹلڈ ہوں،الحمدللہ حق حلال کا کاروبار کر رہاہوں اور کرتا رہوں گا انشاءاللہ pic.twitter.com/q8nqIGofw2
— Ali Dar (@alimdar82) October 3, 2021
Narrating his side of the story, Dar said the companies are absolutely legal and were made for legal purposes. I have settled in the Emirates since graduation and have been running my legitimate businesses.
The statement further reads that he [Ali] has never been a ‘tax resident’ in Pakistan nor been involved in any professional, employment, or business activities.
Being settled in the UAE where there has never been any taxation, there was no question of any tax haven, he said while adding that there has never been any need for a ‘secrecy haven’ as his businesses are bonafide with complete disclosure to UAE authorities.
The two offshore companies registered in the British Virgin Islands (BVI) were done solely for the purpose of ease of registration, lowest corporate incorporation fee, and annual renewal charges”, it added.
On the other hand, Federal Information Minister Chaudhry Fawad Hussain said that the Pandora Papers have unfolded layers of corruption of ousted prime PM Nawaz Sharif and ex-president Asif Ali Zardari.
Ali Dar, son-in-law of Nawaz Sharif and son of Ishaq Dar, and that PPP leader Sharjeel Inam Memon had no status of their own and were the custodians of Sharif and Zardari’s ill-gotten money, he said.
Around 700 Pakistanis have been named in the report including Finance Minister Shaukat Tarin, Punjab minister Aleem Khan, PTI Senator Faisal Vawda, and PML-Q leader Monis Elahi. Furthermore, a number of retired public officials, bureaucrats, and businessmen are also mentioned in the report.
Pakistani currency remains marginally same against US Dollar and other currencies on April 20, 2024. US dollar was being quoted at 277.5 for buying and 280.5 for selling.
Euro comes down to 293 for buying and 296 for selling while British Pound stands at 342.25 for buying, and 345.65 for selling.
UAE Dirham AED was at 75.25 and Saudi Riyal's new rates was at 73.30.
Currency | Symbol | Buying | Selling |
---|---|---|---|
US Dollar | USD | 277.5 | 280.5 |
Euro | EUR | 293 | 296 |
UK Pound Sterling | GBP | 342.5 | 346 |
U.A.E Dirham | AED | 75.2 | 75.9 |
Saudi Riyal | SAR | 73.3 | 74.05 |
Australian Dollar | AUD | 181 | 182.8 |
Bahrain Dinar | BHD | 740.55 | 748.55 |
Canadian Dollar | CAD | 201 | 203 |
China Yuan | CNY | 38.47 | 38.87 |
Danish Krone | DKK | 39.78 | 40.18 |
Hong Kong Dollar | HKD | 35.53 | 35.88 |
Indian Rupee | INR | 3.33 | 3.44 |
Japanese Yen | JPY | 1.86 | 1.94 |
Kuwaiti Dinar | KWD | 903.11 | 912.11 |
Malaysian Ringgit | MYR | 58.08 | 58.68 |
New Zealand Dollar | NZD | 164.22 | 166.22 |
Norwegians Krone | NOK | 25.61 | 25.91 |
Omani Riyal | OMR | 723.2 | 731.2 |
Qatari Riyal | QAR | 76.45 | 77.15 |
Singapore Dollar | SGD | 204.5 | 206.5 |
Swedish Korona | SEK | 25.31 | 25.61 |
Swiss Franc | CHF | 305.47 | 307.97 |
Thai Bhat | THB | 7.56 | 7.71 |
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