Plea moved in Pakistan’s top court against those named in Pandora Papers

Islamabad [Pakistan]: A plea has been filed in Pakistan’s top court seeking direction for the federal law enforcement agency to launch an inquiry and determine if those named in the Pandora Papers and the Panama Papers had committed or indulged in any malpractice.
A petition has sought a direction for the Pakistani citizens named in the Panama Papers and the Pandora Papers to clear themselves by assuring the country’s Federal Board of Revenue (FBR) that the investment made in the offshore firms were legitimate, Dawn newspaper reported. The Pakistani publication stated that the petition has urged the country’s Supreme Court to order the FBR to direct such individuals to furnish an explanation with supporting documentary evidence.
The foreign assets of those Pakistani citizens who could not justify such transactions should be frozen by the FBR within three months, as per the petition.
In addition, the plea calls for initiating legal proceedings to recover assets under the Stolen Asset Recovery Initiative as suggested in the UN Convention Against Corruption (UNCAC), which was ratified by Pakistan in August 2007.
Earlier this month, the International Consortium of Investigative Journalists (ICIJ) revealed a trove of private financial records of 700 Pakistanis, including cabinet members of Imran Khan’s government in ‘Pandora Papers’.
The ICIJ stated that key members of Prime Minister Imran Khan’s inner circle, including cabinet ministers, their families and major financial backers have secretly owned an array of companies and trusts holding millions of dollars of hidden wealth.
The ICIJ said that military leaders have also been implicated. The tension between the political parties escalated since the announcement was made that the details about leaked papers would be shared.

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