Islamabad: Prime Minister of Pakistan Imran Khan has promised to ‘investigate’ Pakistani citizens who are involved in an extensive rehearsal into the world’s hidden wealth of politicians.
The Pandora Papers, a trove of documents, reveals that some of Khan’s key members, including cabinet ministers, their families and major financial backers, secretly owned firms holding millions of dollars of hidden wealth. The 11.9 million documents reveal some rich and powerful in the world hidden wealth, tax evasion and money laundering.
We welcome the Pandora Papers, which expose the unlucky wealth of the elites, accumulate by tax evasion and corruption, and wash away the financial hats,” Khan said on Sunday night on Twitter. The United Nations SG Panel FACTI has estimated an astonishing 7 billion dollars of robbery in mostly offshore tax-havens.
while urging the international community to “treat this serious injustice as similar to the crisis of climate change
Tax havens fuelling inequality and poverty
In 2018, Khan came to power on an anti-graft platform, promising a new political system that would root out corruption, eradicate poverty, and increase the economy of the country.
He said, “I have fought for over two decades because I believe countries are not poor but corruption causes poverty, as money is not invested in our people. In addition, this theft of resources leads to devaluation, leading to the deaths of thousands of people in poverty.”
When the inequalities between rich and poor countries are not controlled, they will increase as poverty increases,” and in turn “causes an inundation of economic migration from poor to rich states, which will cause further global economic and social stability.
Around 700 Pakistani people are reported to have been listed in the Pandora documents published by the IJC (ICIJ). Fiscal Minister Shaukat Tarin, PML-Q leader Chaudhry Moonis Elahi, son of PML-Ischaq N’s Dar, PPP’s Sharjeel Memons, PTI leader, Abdul Aleem Khan, and Axact’s CEO Shoaib sheikh, are some of the prominent Pakistanis with alleged offshore links. His brother is Chawra Khush Bakhtiar, Minister of Finance, and PML-Q leader Shoaib Sheikh. The papers have also named some former military leaders and their relatives.
In the files of offshore companies about 35 current and former leaders and over 300 officials in 91 countries confront allegations of corruption, money laundering and the worldwide avoidance of taxes.