Second bombshell of Panama Leaks
AS political hullaballoo caused by revelations in the first phase of Panama Papers is still rocking the boat, more prominent names have come to the surface in the second list of Pakistanis owning offshore companies. These, among others, include financier of Imran Khan, close associates of PTI leader and former President Zardari, Altaf’s friend, Oscar award winner Sharmeen Obaid and business figures.
This is not end of the list and it is certain that more names would be made public in releases to follow and this means continuation of the fuss that we witness these days. It is agreed by all that owning of the offshore companies is not a crime in itself and illegality arises only if the money transferred abroad was earned and moved out through questionable means. This should lead one to the logical conclusion that a thorough inquiry of what happened should be carried out in a transparent manner and effective mechanism should be evolved and put in place to ensure that nothing of the sort happens in future. However, it is regrettable that the opposition in Pakistan seems to be just politicizing the issue for the sake of its own advantage and is not serious either in probing of the corruption or plugging the loopholes in the system. Their entire focus seems to be on ousting Prime Minister Nawaz Sharif and destabilizing his Government when there is an overwhelming impression that his administration was delivering as per expectations of the masses and might win the next general elections as well. The PPP has nothing to its credit as apart from increasing salaries of the Government employees, it only earned notoriety for its corruption. Similarly, PTI is completing three years in KPK but there is hardly any improvement in any sphere of life there and therefore, it suits Imran Khan and PPP to malign and destabilize the Government to create some space for them in the realm of real politics. We believe that the sham war on Panama Papers should come to a halt and both sides should sit together and reform the system rather than to undermine the on-going system.