Panama leaks: Sharif to quit if proven guilty

Pakistan's embattled Prime Minister Nawaz Sharif today pledged to resign if proved guilty of graft or misappropriation in a high-level probe in the wake of the 'Panama Paper' leaks in which three of his children are said to have offshore companies. "I challenge all those who allege tax fraud to come forward and present evidence. If charges are proved against me, I will resign immediately," vowed Sharif in an address to the nation.

This was his second such speech this month, since three of his four children two sons and one daughter were said to have offshore companies as mentioned in a massive leak of 11.5 million tax documents.

The so-called 'Panama Papers' made public earlier this month claimed to have exposed the secret offshore dealings of around 140 political figures globally.

His remarks came a day after the Election Commission released the assets statements of Sharif for 2015 showing him as one of the richest politicians in Pakistan with a personal assets of Rs 2 billion, an increase of over a billion in just four years. The value of the assets owned by Sharif and his spouse comes to around Rs 2 billion — an increase of over a billion in just four years. However, he does not own any property abroad. Sharif's opponents are using the opportunity to put pressure on the 66-year-old premier to come clean on his family businesses abroad. He accepted popular demand to set up a probe commission under the leadership of the Chief Justice of Supreme Court and said he will "write a letter to the Chief Justice to set up a commission so that it should investigate the allegations".