ISLAMABAD – Justice (retired) Javed Iqbal, chairman of National Accountability Bureau (NAB), on Thursday directed officials not to accept pressure during an investigation against 435 offshore companies established in Panama and British Virgin Islands by Pakistanis.
According to a press release, Iqbal issued directions while reviewing initial inquiry report on these companies in Islamabad. He also directed official to expedite process of collecting record and information from Federal Board of Revenue (FBR), State Bank of Pakistan (SBP) and Securities and Exchange Commission of Pakistan (SECP).
He said that inquiry should be brought to a logical end on basis of merit, evidences and law. He asked the officials to inquire those Pakistanis about the reason for establishing the offshore companies, besides getting complete money trail from them.
He directed them to investigate if owners of these companies made any money laundering or brought losses to the national kitty.
Among those who own offshore firms include Pakistan Tehreek-e-Insaf’s (PTI) leader Aleem Khan who is said to own a company named HEXAM in British Virgin Island, registered in 2004.
Moreover, former FBR chief Abdullah Yousafi’s family also has about six offshore companies established in the British Virgin Islands and Panama including two companies named Green Deal Management and Green-Wood Investment.
Shahid Abdullah and Shayan Abdullah have three companies called Green Wood Investors, Sheree Investment and Green Deal Management whereas Usman Yousaf’s company’s name is Marlborough.
Scores of other Pakistani businessman, bureaucrats, bankers, as well as others were also identified to have been managing offshore assets, in an effort to conceal their stashes of wealth.
