Panama Leaks Documents reality and Legal value

[aping4]

As usual Pakistanis went blind and started questioning but the reality is completely different please read the details of documents as they are not defaming Noora league at all.
read following

Among those named are three of Sharif’s four children — Maryam, who has been tipped to be his political successor; Hasan and Hussain, with the records showing they owned London real estate through offshore companies administrated by the firm.

“Nawaz Sharif does not own any company but having co
mpanies in the name of his children also raises questions,” Umar Cheema of the independent Center for Investigative Reporting in Pakistan (CIRP) told AFP.

The CIRP is partnered with the Investigative Consortium of Independent Journalists (ICIJ), which spent months poring over the documents ahead of Sunday’s online release.

PM Nawaz's family hit back after Panama Papers leak

The family of Prime Minister Nawaz Sharif was defiant Monday, defending their ownership of offshore companies after they were named in the Panama Papers, one of the biggest leaks in history.The leak, comprising 11.5 million documents from Panama-based law firm Mossack Fonseca, shows how some of the world’s most powerful people have secreted away their money in offshore jurisdictions.


Among those named are three of Sharif’s four children — Maryam, who has been tipped to be his political successor; Hasan and Hussain, with the records showing they owned London real estate through offshore companies administrated by the firm.

“Nawaz Sharif does not own any company but having companies in the name of his children also raises questions,” Umar Cheema of the independent Center for Investigative Reporting in Pakistan (CIRP) told AFP.
The CIRP is partnered with the Investigative Consortium of Independent Journalists (ICIJ), which spent months poring over the documents ahead of Sunday’s online release.

“There are more than 200 Pakistanis which our report has identified, and they include lawyers, lawmakers and some people from the judiciary,” he said.

Opposition leader Imran Khan issued a swift call for action against Sharif after the release.“Our stance vindicated again as Sharif’s wealth stashed abroad exposed,” he tweeted, adding the country’s accountability watchdog, tax authorities and election commission “must take action”.

But Sharif’s son Hussain told a private broadcaster that his family had done “nothing wrong”.“Those apartments are ours and those offshore companies are also ours,” he said in comments aired by the channel Monday.

“There is nothing wrong with it and I have never concealed them, nor do I need to do that.
“It is according to British law and laws of other countries that it is a legal way to avoid unnecessary tax via offshore companies.”

He left Pakistan in 1992, he added, and therefore is not resident, adding Pakistani tax law “says that if you are not staying in Pakistan for more than 138 days, then you are not required to declare your assets”.Regarding Imran’s call for the National Accountability Bureau (NAB) to investigate, he said “we voluntarily present ourselves before it or any other judicial and investigative institution in Pakistan”.

And he issued one final dig at Imran, calling on him to provide “proof that the Prime Minister has not declared his assets”.
“If he is successful in that then we are ready to accept our fault and undergo punishment,” he said.Nawaz Sharif’s office has not yet responded to requests for comment by AFP.

Ali Nadir, a financial analyst, said the use of offshore companies was in many cases legitimate.But, he added: “I believe political and business leaders will be hard pressed to take the privacy defence given the worldwide move towards a better track of money, tax evasion, laundering and corruption.

“This may also start more locally focused probes as there are likely to be disclosure issues.”The Panama Papers have whipped a storm of controversy over off-shore wealth, ensnaring political leaders, sports figures and underworld members across the globe in a snowballing scandal.

Responding to Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan’s remarks against Prime Minister Nawaz Sharif and his family’s alleged illegal assets in foreign accounts, Information Minister Pervez Rashid brushed aside “allegations without any proofs”.

“Nawaz Sharif regularly pays his taxes and has no funds abroad,” the information minister said while speaking to mediamen in Islamabad on Monday.

Rashid said Imran’s accusations have once again proven false, advising the cricketer-turned-politician to apologise for hurling false accusations against political personalities without having any proofs.
“Panama leaks did not talk about any company of Sharif family which is enough proof that all the allegations of stashing funds abroad against the family are false,” he maintained.

The minister further said that the Sharif family was forced out of the country in late 90s and were not allowed to come back to Pakistan for a long time which “compelled them to establish their business abroad.”

“Sons of Nawaz Sharif have been living abroad for a long time and they were not allowed to come to Pakistan which is why they started their business abroad.”

“Today, no one talks about the mistreatment which was meted out to the business of Sharif family during the past regimes in the country,” he lamented.

“Even Nawaz Sharif’s deadliest woes could not prove a single corruption case against him. Benazir Bhutto never hurled any accusation against Nawaz Sharif for corruption nor could Musharraf prove anything against him.”

Source

 

[GujjarPakistani]

Re: Panama Leaks Documents reality and Legal value (Admin Please dont merge this thread)

شریف فیملی پہ آف شور کمپنی کی ملکیت کا الزام نیا نہیں ہے نہ ہی ان کی لندن میں پراپرٹی کے بارے کوئی نیا انکشاف سامنے آیا ہے ،،پاکستان کی اپوزیشن پارٹیوں کی جانب سےان الزامات کو گاہے بگاہے دھرایا جاتا رہا ہے ، حسن نواز نے وضاحت سے معاملے کو میڈیا میں پیش کیا ہے،،لندن میں نواز شریف کے نام کچھ نہیں ہے ،جو کاروبار ہے وہ حسن نواز چلا رہا ہے ،،کاروبار کرنے میں کوئی قباحت نہیں ، اتنی سنسنی پھیلانے کا کوئی جواز نہیں بنتا،

 

[kakamana]

This #panamaleaks is a slap for those journalist as well which were involved in those planted interview where Shareef family claim those properties since they know such reports are developing.

 

[kakamana]

Y don't my patwari friends who start popping their heads & trying to defend this #panamaleaks bother to answer valid question raised by @admiral at

http://www.siasat.pk/forum/showthre...anama-Leaks)&p=3879761&viewfull=1#post3879761

 

[Porus]

یہ قانونی نہیں سیاسی مسئلہ ہے- سیاست میں مخالف کو ہر طریقے سے زک پہنچانے کی کوشش کی جاتی ہے یہ نہیں دیکھا جاتا کہ قانون کیا کہتا ہے


اچھے خاصے پڑھے لکھے لوگ بھی آف شور کمپنیوں کے ضابطہُ کار سے واقف نہیں تو عوام الناس کا ذکر ہی کیا- اگرایسی ہوا باندھ دی جائے کہ "دیکھیے صاحب یہ ثابت ہوگیا ہے کہ نواز شریف کرپٹ ہے کیونکہ اس کے بچوں کے نام آف شور کمپنیاں ہیں" تو اس کا سیاسی فائدہ ہو گا- بھلے جو معلومات دی گئی ہیں وہ اکثر پہلے ہی میڈیا میں آ چکی تھیں اور کم از کم اب تک سامنے آنے والی معلومات سے کسی قانونی کاروائی کی راہ ہموار نہیں ہوتی- لیکن بار بار اس الزام کو دہرا کراور پانامہ لیکس کا حوالہ دے دے کر نواز شریف کی اخلاقی ساکھ کمزور کر کے سیاسی نقصان ضرور پہنچایا جا سکتا ہے - اس طرز عمل پر عمران خان کو الزام نہیں دیا جا سکتا کیونکہ کوئی اور سیاستدان یا خود نواز شریف بھی عمران خان کی جگہ ہوتے تو یہی کچھ کرتے ​

 

[hassan.te]

Re: Panama Leaks Documents reality and Legal value (Admin Please dont merge this thread)

شریف فیملی پہ آف شور کمپنی کی ملکیت کا الزام نیا نہیں ہے نہ ہی ان کی لندن میں پراپرٹی کے بارے کوئی نیا انکشاف سامنے آیا ہے ،،پاکستان کی اپوزیشن پارٹیوں کی جانب سےان الزامات کو گاہے بگاہے دھرایا جاتا رہا ہے ، حسن نواز نے وضاحت سے معاملے کو میڈیا میں پیش کیا ہے،،لندن میں نواز شریف کے نام کچھ نہیں ہے ،جو کاروبار ہے وہ حسن نواز چلا رہا ہے ،،کاروبار کرنے میں کوئی قباحت نہیں ، اتنی سنسنی پھیلانے کا کوئی جواز نہیں بنتا،

teri sahoolat k liye sada sawal hai.... agar teri bhains chori ki nahi hai, to tu isay kisi 2sray k baarray mai kyu bandhay ga? jab k roz to uska doodh mai nikalnay jata hai aur bhains lagwaanay bhi...

 

[hassan.te]

یہ قانونی نہیں سیاسی مسئلہ ہے- سیاست میں مخالف کو ہر طریقے سے زک پہنچانے کی کوشش کی جاتی ہے یہ نہیں دیکھا جاتا کہ قانون کیا کہتا ہے


اچھے خاصے پڑھے لکھے لوگ بھی آف شور کمپنیوں کے ضابطہُ کار سے واقف نہیں تو عوام الناس کا ذکر ہی کیا- اگرایسی ہوا باندھ دی جائے کہ دیکھیے صاحب یہ ثابت ہو یا کہ نواز شریف کرپٹ ہے جونکہ اس کے بچوں کے نام آف شور کمپنیاں ہیں تو اس کا سیاسی فائدہ ہو گا- بھلے جو معلومات دی گئی ہیں وہ اکثر پہلے ہی میڈیا میں آ چکی تھیں اور کم از کم اب تک سامنے آنے والی معلومات سے کسی قانونی کاروائی کی راہ ہموار نہیں ہوتی- لیکن بار بار اس الزام کو دہرا کراور پانامہ لیکس کا حوالہ دے دے کر نواز شریف کی اخلاقی ساکھ کمزور کر کے سیاسی نقصان ضرور پہنچایا جا سکتا ہے - اس طرز عمل پر عمران خان کو الزام بھی نہیں دیا جا سکتا کیونکہ کوئی اور سیاستدان یا خود نواز شریف بھی عمران خان کی جگہ ہوتے تو یہی کچھ کرتے ​

[/QU
what a nonsense. Offshore companies are used to hide the black money illegally transferred from land of its origin.

 

[GujjarPakistani]

Re: Panama Leaks Documents reality and Legal value (Admin Please dont merge this thread)

میں نے کوشش کی کہ کسی کو مخاطب کر کے کوئی بات نہ کرو ں اور اگر کسی کو قوٹ کروں تو بھی کوئی ایسے الفاظ نہ لکھوں جو ذاتیات سے متعلق ہوں ، تم تحریک انصاف والے اتنے بے غیرت ہو کہ ایشو پہ بات ہو رہی ہوتی ہے مگر تم ڈائریکٹ ذات اور برادری پہ حملہ آور ہوجاتے ہو ،

teri sahoolat k liye sada sawal hai.... agar teri bhains chori ki nahi hai, to tu isay kisi 2sray k baarray mai kyu bandhay ga? jab k roz to uska doodh mai nikalnay jata hai aur bhains lagwaanay bhi...

 

[hassan.te]

Re: Panama Leaks Documents reality and Legal value (Admin Please dont merge this thread)

میں نے کوشش کی کہ کسی کو مخاطب کر کے کوئی بات نہ کرو ں اور اگر کسی کو قوٹ کروں تو بھی کوئی ایسے الفاظ نہ لکھوں جو ذاتیات سے متعلق ہوں ، تم تحریک انصاف والے اتنے بے غیرت ہو کہ ایشو پہ بات ہو رہی ہوتی ہے مگر تم ڈائریکٹ ذات اور برادری پہ حملہ آور ہوجاتے ہو ،

kyaa gujjar hi reh gaye gai bhainsun walay is mulk mai? baki tumhain yeh sawal is liye pucha k teri moti akal mai samajh aa jai k offshore company kya hoti, aur tu apni chawalain thori si organise kar le... chori ki bhains, kisi aur k baarray mai, kisi aur k killay sae bhandnay ko offshoring kehtay hian. ab 2bara mut puchna k yeh legal hai k illegal.

 

[GujjarPakistani]

Re: Panama Leaks Documents reality and Legal value (Admin Please dont merge this thread)

چل اوئے مسلی پٹھان ، کاندھے پہ تین چار قالین رکھ ، اور جا کے دہاڑی لگا ،کیوں ٹائم کھوٹا کرتا ہے؟ بچوں کو کس بات کی سزا دیتا ہے ؟ کھانا بنی گالہ سے نہیں آئے گا

kyaa gujjar hi reh gaye gai bhainsun walay is mulk mai? baki tumhain yeh sawal is liye pucha k teri moti akal mai samajh aa jai k offshore company kya hoti, aur tu apni chawalain thori si organise kar le... chori ki bhains, kisi aur k baarray mai, kisi aur k killay sae bhandnay ko offshoring kehtay hian. ab 2bara mut puchna k yeh legal hai k illegal.

 

[hassan.te]

Re: Panama Leaks Documents reality and Legal value (Admin Please dont merge this thread)

چل اوئے مسلی پٹھان ، کاندھے پہ تین چار قالین رکھ ، اور جا کے دہاڑی لگا ،کیوں ٹائم کھوٹا کرتا ہے؟ بچوں کو کس بات کی سزا دیتا ہے ؟ کھانا بنی گالہ سے نہیں آئے گا

hahahaha... phattu...

 

[tariq nadeem]

???? ????? ?? ?? ??? ????? ?? ????? ?? ????? ??? ???? ?? ?? ?? ?? ?? ???? ??? ??????? ?? ???? ???? ??? ?????? ????? ??? ?? ????????? ?? ??????? ??????? ?? ???? ???? ??????? ?? ???? ????? ?????? ???? ??? ?? ? ??? ???? ?? ????? ?? ?????? ?? ????? ??? ??? ??? ???????? ??? ???? ???? ?? ??? ??? ???? ?? ??? ??????? ?? ?? ??? ???? ??? ??? ?? ????????? ???? ??? ???? ????? ???? ? ???? ????? ??????? ?? ???? ???? ???? ?????

Yaar had hoti hai. I was a die hard ppp Jayala very close to a top leader but said goodbye when it became obvious that Zardari and Co were rotten to the core. It's there for all to see that these guys are corrupt there is no point beating around the bush.

 

[GujjarPakistani]

​بھائی اس میں کچھ نیا نہیں ، ہم گہرائی میں دیکھتے نہیں اور رائے دینے کے لئے ٹوٹ پڑتے ہیں ، پانامہ لیک وہی 90 کی دہائی کے الزامات ہیں ، کچھ نیا نہیں ، سارے کاروباری ٹیکس بچانے کے حیلے کرتے ہیں ۔

Yaar had hoti hai. I was a die hard ppp Jayala very close to a top leader but said goodbye when it became obvious that Zardari and Co were rotten to the core. It's there for all to see that these guys are corrupt there is no point beating around the bush.

 

[GujjarPakistani]

Re: Panama Leaks Documents reality and Legal value (Admin Please dont merge this thread)

​پٹھان تو بڑی محنتی قوم ہے تم انے نکمے اورنااہل کیوں ہو ؟

hahahaha... phattu...

 

[tariq nadeem]

????? ?? ??? ??? ??? ???? ? ?? ?????? ??? ?????? ???? ??? ???? ???? ?? ??? ??? ???? ??? ? ?????? ??? ??? 90 ?? ????? ?? ??????? ??? ? ??? ??? ???? ? ???? ???????? ???? ????? ?? ???? ???? ??? ?

Those in positions of responsibility should avoid these heelay at all costs. You should set an example for common man to follow. PPP say no corruption proven against zardari but we all know the reality. Second aspect in all this is lack of transparency and transfer of money. You will agree with me that all this requires a high profile enquiry that clears everything and that can't be done with accused in power.

 

[hassan.te]

​بھائی اس میں کچھ نیا نہیں ، ہم گہرائی میں دیکھتے نہیں اور رائے دینے کے لئے ٹوٹ پڑتے ہیں ، پانامہ لیک وہی 90 کی دہائی کے الزامات ہیں ، کچھ نیا نہیں ، سارے کاروباری ٹیکس بچانے کے حیلے کرتے ہیں ۔

O gujraa, yeh ilzaam nahi, ab ki baar in shareefun k apnay sign shuda documents hain jin ka yeh 90 ki dahai se inkaar kartay aa rahay hian. lassi p k tae teri tae mutt hi maari jaandi ae...

 

[DESIBOY007]

Panama Papers: List of Pakistani politicians, businessmen;judge

Panama Papers: List of Pakistani politicians, businessmen who own companies abroad

A massive collection of leaked documents including details about offshore companies operating in multi-layered secrecy has revealed names of people from around the world, including Pakistani politicians, businessmen, bankers as well as a serving high court judge and a retired judge.


The names found in the secret files range from those of Prime Minister Nawaz Sharif’s family to Punjab Chief Minister Shahbaz Sharif’s relatives; from Benazir Bhutto to Javed Pasha; from Senator Rehman Malik to Senator Osman Saifullah’s family; and from Waseem Gulzar (a relative of the Chaudhrys of Gujrat) to Zain Sukhera, who was co-accused with former Prime Minister Yusuf Raza Gilani’s son in the Hajj scandal.


Businessmen featured in the record range from hotel tycoon Sadruddin Hashwani to real estate czar Malik Riaz Hussain’s son; from the Hussain Dawood family to the Abdullah family of Sapphire Textiles, Gul Muhammad Tabba of Lucky Textiles as well as Shahid Nazir of Masood Textiles and from Zulfiqar Ali Lakhani to Zulfiqar Paracha.


Members of the bar and the bench were also spotted in the documents include one serving judge of the Lahore High Court, Justice Farrukh Irfan; and one retired judge, Malik Qayyum. The owner of Hilton Pharma, Shehbaz Yasin Malik opened the company for a Swiss bank account. Chairman ABM Group of Companies Azam Sultan, Pizza Hut owner Aqeel Hussain and Chairman Soorty Enterprise Abdul Rashid Soorty were also identified along with the family members.


At a global level, the ICIJ and its partners discovered the offshore companies controlled by the prime minister of Iceland, the late father of UK prime minister, children of Azerbaijan’s president, the king of Saudi Arabia, associates of Russian president Vladimir Putin who stashed two billion dollars through banks and shadow companies, the Ukrainian president and brother-in-law of the Chinese president, among other prominent figures. Meanwhile, the BBC said that names 72 former and current heads of state have surfaced in the documents.


As many as 29 billionaires featured in Forbes Magazine’s list of the world’s 500 richest people and movie star Jackie Chan have also figured in the list of company owners in addition to the family of Bollywood stars Amitabh Bachchan and Aishwarya Rai’s family.


Records spanning four decades buried behind the tight wall of secrecy are on open display now confirming doubts and fuelling debate about the offshore jurisdictions like the British Virgin Island, Panama, and Seychelles etc. Data made available is of one little known but a big law firm based in Panama, Mossack Fonseca, having global footprints in terms of its offshore clients.


Over 200 Pakistanis have been identified and the counting is still in progress. The data under examination covers nearly 40 years from 1977 through the end of 2015. Pakistanis started figuring in the record from 1990 onward.


The family of Prime Minister Nawaz Sharif is conspicuous due to its political profile. The record identifies four companies in the ownership of Maryam Nawaz, Hussain Nawaz and Hassan Nawaz. Punjab Chief Minister Shahbaz Sharif’s relatives Samina Durrani and Ilyas Mehraj have also figured in the documents examined.


A company earlier accused in the oil-for-food bribery scandal also resurfaced in the record reconfirming the late Benazir Bhutto, her nephew, Hassan Ali Jaffery and Senator Rehman Malik as the only three shareholders of Petroline International Inc.


Javed Pasha has been found linked to five companies. The remaining shareholders in those companies are prominent businessmen of Indian origin.


None but Sadruddin Hashwani, Ilyas Mehraj, Justice (r) Malik Qayyum and Aqeel Hussain responded among the above-mentioned individuals when contacted for their versions that have been incorporated. When contacted some said that to own and run an offshore company is lawful and according to the rules and regulation while some did not reply.


Examination of data indicates that some are beginners in this secret world, others incorporated the companies but left them dormant ending at dissolutions whereas many have kept them active using them for the intended purposes.


The record of ownership varies as it ranges from emails to spreadsheets, passports, signatures of shareholders, bank accounts details, property documents, resolution of directors and contact details in Pakistan and abroad.


The overall data indicates that many of the owners of such companies from different parts of the world were also involved in drug trafficking, robberies, and cheating.


Associates of Dawood Ibrahim, Junaid Iqbal Memon, Nadiya Javed Malik and Hajra Iqbal Memon also own companies. In response to a query about the source of funding they replied to the British Virgin Islands administration that funds are generated “through borrowing/loan.”


The files examined by ICIJ and its partners found a convicted money launderer who claimed he had arranged a $50,000 illegal campaign contribution used to pay the Watergate burglars, drug kingpins, tax evaders and, at least, one jailed sex offender owning offshore companies.


The files contain new details about major scandals ranging from England’s most infamous gold heist to the bribery allegations convulsing FIFA, the body that rules international soccer.


Although no offshore entity is directly owned by Prime Minister Nawaz Sharif and Punjab Chief Minister Shehbaz Sharif, as many as eight companies have been identified that are linked either with Hussain Nawaz, his sister, and brother or Shahbaz’s relatives, the documents show.


Maryam Nawaz is the secret beneficial owner of two companies set up in 1993-94. She is also the shareholder of another company jointly owned by her and Hussain Nawaz. Hassan is the sole owner of yet another offshore holding. The companies have last been used for purchasing six properties in London during 2007-8.


Shahbaz Sharif’s relative Ilyas Mehraj has been mentioned as a major shareholder of a company though he firmly denies it. Another relative of the Punjab CM Samina Durrani owns three companies; the latest was opened in 2010.


Nescoll Limited, Nielson Holdings Limited, Coomber Group Inc., and Hangon Property Holdings Limited are four companies owned by Maryam, Hussain, and Hassan.


As many as six properties were purchased in London during 2007 and 2008 through these offshore companies.


Nescol, Nielsen, and Coomber entered into a mortgage deal of seven million pounds with a Swiss bank, Deutsche Bank (Suisse) SA, for four properties. Hangon bought two properties through a loan from the Bank of Scotland.


Although Hangon’s loan amount is not mentioned, documents indicate that the company itself was purchased along with its stock for 5.5 million pounds by Hassan Nawaz in 2007 from a Liberian citizen.


The oldest company among the four is Nescoll Limited. It was registered on January 27, 1993. Nielson Holdings Limited was incorporated on April 14, 1994. Both of them subscribed to the services of Mossack Fonseca on July 26, 2006, and Minerva Services Limited, a British Virgin Island-based corporate service provider, acted as proxy shareholder being represented through Neel Sehai and Mark Andrew.


Mossack Fonseca was their administrator when Nescoll, Nielson, and Coomber obtained a mortgage of seven million pounds from the Swiss bank through these companies and purchased flats: 16, 16a, 17, and 17a at Avenfield House, 118 Park Lane, London, W1K 7AF. While Maryam is the sole beneficial owner of Nescoll and Nielson, Coomber is jointly owned by Maryam and Hussain.


Meanwhile, the Bank of Scotland sanctioned a loan of an unknown amount to the Hassan-owned Hangon for the purchase of property at 1 Hyde Park Place, London, W2.


Hassan transferred the company to another agent from Mossack Fonseca in 2008, the activities that followed couldn’t be found in the leaked record, the remaining three companies also changed their agent in 2014 hence the post-transfer business remains unknown.


As many as four companies have been linked with the relatives of Shahbaz Sharif. Haylandale Limited, a company registered in the Bahamas on July 24, 2003, shows Habib Waqas Group/Ilyas Mehraj as a shareholder owning 127,735 shares. Other shareholders are Credit Suisse Life & Pensions (125,000 shares), High Octane Fund (900,000) and Michael Mates (100,000).


A resolution passed at a meeting held on September 4, 2004, states that “It was further resolved that the Secretary and Director shall effect a transfer of shares of 400,000 shares to Mark Wilson from Haseeb Waqas Group/Ilyas Mehraj.”


Ilyas Mehraj however categorically denied this impression. “We have read the contents of your email and are surprised at the contents thereof. We are not aware of any company whether incorporated in the Commonwealth of Bahamas or anywhere else under the name: Haylandale Ltd. The question of our Group, which is Haseeb Waqas or Mr. Ilyas Mehraj having any shares of the said company, does not arise. Therefore, we are unable to answer the queries on the same,” his spokesman replied.


Samina Durrani owns three offshore companies: Rainbow Limited, registered in BVI on September 29, 2010; Armani River Limited, registered in the Bahamas on May 16, 2002, and Star Precision Limited, registered in BVI on May 21, 1997.


The assets of Armani have been described as a “property in London, which is not currently rented.” In the case of Star Precision Limited, described asserts are “cash as the investment portfolio. We are also holding 1,165,238 shares in Orix Leasing Pakistan Limited.”


While politicians gain attention due to their public profile, a majority of names found in the leaked record of offshore companies are of businessmen. Prominent among them are tycoons of the hotel industry, textile sector, real estate, pharmaceutical industry, bankers and media owners.


Zulfiqar Lakhani of the Lakson group, CEO of three companies (Colgate-Palmolive, Tetley Clover and Clover Pakistan) has been identified as a secret beneficial owner of a company registered in the British Virgin Islands, Lezayre Ltd since 2000. Proxy shareholders are Benson Equities Inc., Brock Nominees Limited, and Tenby Nominees Limited.


Information shared only on December 4, 2015, with BVI identifies him as the beneficial owner having businesses in Pakistan. Activities carried out through the company have been described as “asset holding, bankable asset”. The source of wealth has been mentioned as “proceed to inheritance and business earning, CEO of Colgate-Palmolive (Pakistan) Ltd and Tetley (Pakistan) Ltd.”


Founder of the Hashoo Group, Sadruddin Hashwani, is a secret beneficial owner along with his son, Murtaza, of the First Global Investments Holdings Limited, registered in BVI that is run through corporate proxies as the shareholders are North Atlantic Services Limited and Rushlake Hotels (USA) Inc., registered in Florida, yet another tax haven.


When beneficial owners of the companies were disclosed upon the insistence of the BVI administration, they turned out to be Sadruddin Hashwani and his son, Murtaza Hashwani. The company’s activities have been described as investment and asset holding with main countries of activities being Pakistan, Nigeria, USA, and UAE. About the major shareholder, Rushlake Hotels (USA) Inc., documents described Rushlakeas “specializes in Estate Planning, Real Estate….”


First Global also owns shares of Orient Petroleum Inc and a mortgage deal of 30 million pounds was signed with Standard Bank PLC., for the Orient. Another company, Celtico Capital Management, is owned by Murtaza Hashwani. A detailed explanation of the Hashoo Group has been given at the bottom.


Ahmed Ali Riaz, son of property tycoon, Malik Riaz, was a shareholder of Westhorpe International Limited, a BVI registered company. When contacted, he said he had nothing to do with that company. He explained that not a single project of his was abroad. He said they had advertised their projects and attracted a huge number of overseas Pakistanis who invested billions of rupees in Pakistan in these projects and this fact appears prominently in their tax statements. He maintained that nothing could be established against them despite opposition from some figures in government and some in the legal community.


Shehbaz Yasin Malik, the owner of Hilton Pharma, registered a company, Bladehurst Inc., in BVI in 2000. The purpose of setting it up has been described as “for holding a bank account” which is at Dresdner Bank, Zurich, Switzerland. Five family members are signatories of the account including his father, brothers, and wife. Questions sent for version have not been answered.


The Abdullah family of Sapphire Textiles Mills Limited has been identified in connection with as many as five companies registered in BVI and Seychelles. All of them were incorporated in April-May, 2014. Silver Lands Estate Limited, registered in BVI, has Muhammad Abdullah and his wife as shareholders, records show. Beneficial owners information, a document reads, “will be kept in our record of confidentiality.” Estimated value of assets to be held by the company has been described more than one million dollars. Same is the asset description of Green Dale Management Limited having shareholders, Yousuf Abdullah, and wife.


Shahid Abdullah and his family control the shares of Green Dale Management Limited. Nadeem Abdullah and family are shareholders of Desert Properties Limited. Amer Abdullah and family own Microtex Holding Limited. Questions sent for the version to the Abdullah family have not been answered.


Two companies linked to the Hussain Dawood family are in the files. Carlino Limited, registered in BVI in 2005, identify its directors as Hussain Dawood, Shahzada Dawood, and Abdul Samad Dawood, two offshore companies (Bazaar Investment Limited and Razaran Investment Limited) and one Saad Raja.


In August 2009, the Dawoods transferred shares to Bazar and Razaran and resigned. Who are the beneficial owners of Bazar and Razaran remain anybody’s guess as they are controlled through corporate proxies? Questions sent for versions have not been answered. Before Carlino, another company by the name of Eshter Finance Limited was registered in BVI in 2004 with Hussain Dawood, Shahzada Dawood and Abdul Samad Dawood, its shareholders.


Sultan Ali Allana, Chairman of Habib Bank Limited, and Khawaja Iqbal Hassan, former NIB bank President, held the power of attorney of Swiss Fixed Income Advisors, S.A. registered in BVI in April 1999. A letter from ABN AMRO N.V. London advised to its Singapore branch for the issuance of a draft of one million dollars favoring USB AG and to hand that over to either Sultan or Iqbal upon production of a passport. The Swiss Fixed Income Advisors was dissolved after this. Their detailed version in response to The News questions has been given at the bottom.


Shahid Nazir, CEO of Masood Textile Mills, has been identified in connection with a Bahamas-based company, Redford International Ltd, registered in 2000. The power of attorney was granted in his favour and that of Naziya Nazir with the bank account at ABN AMRO N.V. London. Questions sent for version were returned with an objection that “This is not my wife’s name.” As a matter of fact, The News didn’t claim that Naziya is his wife and that was explained. He didn’t answer later.


Slot Rapid, a BVI registered company of 2005, has proxy directors whereas the power of attorney is with Bashir Ahmed and Javed Shakoor of Buxly Paints and Dr. Mehmood Ahmed of Berger Paints. The company’s investor account has been maintained with Central Depository Company of Pakistan Limited. Questions sent for version have not been answered.


Azam Sultan of ABM Group of Companies has been identified as the owner of five companies in Panama along with his wife and son. They are ABM Worldwide Technologies, Salateen International Corporation, Wheaten Enterprises Inc., Sason International Corporation and Royston International Corporation Inc. Questions sent for version have not been answered.


The owner of Pizza Hut (Pakistan), Aqueel Hassan and his brother, Tanwir Hassan, have been shown as the owners of Austell SA Aqueel. They replied to questions by saying that the company was created by his brother who had a business plan for the Middle East other than Pakistan and that he was not aware whether it was used or not.


Zulfiqar Paracha of Universal Corporation (Pvt) Ltd owns Munawara Holdings Inc., in Panama that was registered in 2014. He together with his family members are the shareholders. The source of the company’s income has been described as “business profit.” Questions sent for version have not been answered.


Mir Shakil-ur-Rahman of the Jang Group registered a BVI company, Marine Properties Limited, on October 22, 2001, that remained inactive and was eventually dissolved.


The version of the Hashoo Group: It is customary to have holding companies incorporated offshore in the Oil & Gas sector, there are several foreign E&P companies operating in Pakistan with this structure. This is indeed quite normal not only done in Pakistan but globally as well in all parts of the world and is in practice both for private and even publically listed companies. However, please note that this in no way compromises any statutory obligation such as taxes, royalties or other payments to GoP, because the branches operating in Pakistan have to comply with local regulations and are being monitored by regulatory authorities i.e DGPC, FBR, SECP, BOI etc. Likewise, First Global is only a holding Company of Orient Petroleum International Inc, (OPII), whereas OPII was working in Pakistan through registered branch as allowed by Authorities and has fully complied the requirements of the Ministry of Petroleum & Natural Resources, SECP, BOI, FBR under the rules and regulations. Since the operations were in Pakistan so all taxes attributable to the laws of Pakistan were fully complied and deposited i.e Taxes, Royalties, Federal Excise Duties & Sales Tax into the government treasury. First Global is also meeting all the regulatory requirements as required by law in all jurisdictions without hiding any information or details.


A version of Khawaja Iqbal Hassan on Swiss Fixed Income Advisors: 1) The funds you have referred to in your email were sent by UBS Securities Pakistan limited to UBS AG as these were funds owed to UBS AG. 2) UBS Pakistan was a subsidiary of UBS AG and there were many transactions that were settled on a daily basis between them through banking channels involving inflows and outflows in foreign exchange for settlement of trades and investment banking. UBS AG is one of the world’s largest banks and was at the time one of the largest participants in Pakistan’s capital markets and investment advisory businesses.3) The funds you have referred to in your email were sent through official banking channels after deduction of taxes and the remittance was made officially from the books of UBS Securities Pakistan limited and from its bank account to Swiss Fixed Income Advisers SA for making the entire payment to UBS AG by way of a bank draft.4) The entire funds you have referred to in your email were handed over to UBS AG in the form of a bank draft on which the beneficiary is clearly stated as UBS AG. UBS AG has evidenced receiving this bank draft. As such the entire amount of funds officially remitted was after deduction of taxes and paid officially to UBS AG.

Source

 

[Basit147]

List Of Pakistani People In Panama Leaks

[h=1]نامہ لیکس میں کس کس
پاکستانیکا نام ہے ؟ مکمل لسٹ

[/h]

اسلام آباد: (نمائندہ خصوصی) پانامہ لیکس کے خفیہ دستاویزات کا خزانہ ہاتھ لگنے سے انتہائی رازداری سے کام کرنے والی غیر ملکی کمپنیوں میں ملوث پاکستان سمیت دنیا کے متعدد معروف شخصیات کے نام آشکار ہوئے ہیں جس میں کئی ملکوں سیاستدانوں سمیت کاروباری شخصیات، بینکرز اور ہائیکورٹ کے حاضر اور ریٹائرڈ جج بھی شامل ہیں۔ تاہم اب پانامہ لیکس کے دستاویزات میں ان تمام پاکستانیوں کے نام سامنے آ گئے ہیں جو کہ آف شور کمپنیوں کے مالک ہیں ۔
پانامہ لیکس کے دستاویزات کے مطابق 200سے زائد پاکستانی شخصیات براہ راست اس کاروبار میں ملوث ہیں اور ممکنہ طور پر مزید افراد کے نام سامنے آنے کا امکان ہے ۔انتہائی دلچسپ امریہ ہے کہ ان دستاویزات میں 1977 تا 2015 تک کاروبار کرنے والے افراد کے نام شامل ہیں جبکہ پاکستانی شخصیات ان میں 1990کی دہائی سے شامل ہوئیں ۔
پاکستانی میڈیا کی نظر اس وقت شریف فیملی پر ٹکی ہوئی ہے جبکہ پانامہ کے دستاویزات کے مطابق شریف فیملی زیادہ آف شور کمپنیاں رکھنے والا خاندان نہیں ہے ۔لکی مروت کی سیف اللہ فیملی برطانوی جزیرہ ورجن ،سے چیلز ،ہانگ کانگ ،سنگا پور اورآئرلینڈ میں 34آف شور


کستانی میڈیا کی نظر اس وقت شریف فیملی پر ٹکی ہوئی ہے جبکہ پانامہ کے دستاویزات کے مطابق شریف فیملی زیادہ آف شور کمپنیاں رکھنے والا خاندان نہیں ہے ۔لکی مروت کی سیف اللہ فیملی برطانوی جزیرہ ورجن ،سے چیلز ،ہانگ کانگ ،سنگا پور اورآئرلینڈ میں 34آف شور کمپنیوں کی مالک ہے۔ پانامہ دستاویزات کے مطابق یہ تمام کمپنیاں سینٹر عثمان سیف اللہ ،سلیم سیف اللہ ،انور سیف اللہ ،ہمایوں سیف اللہ،جاوید سیف اللہ،ڈاکٹر اقبال سیف اللہ اور جہانگیر سیف اللہ کے نام سے منسوب ہیں ۔


سیاستدان اور ان کے رشتہ دار
پانامہ پیپرز میں جن شخصیات کا نام لیا گیاہے جو کہ آف شور کمپنیاں رکھتے ہیں ان میں وزیراعظم نوازشریف کے بیٹے حسین نواز ،مریم صفدر الیاس،مریم نواز ،شہید بینظیر بھٹو اور ان کے بھتیجے حسن بھٹو شامل ہیں اور سینیٹر رحمان ملک شامل ہیں ۔وزیراعلیٰ شہبازشریف کی رشتہ دار الیاس مہراج اور سمینہ درانی کا نام بھی اس فہرست میں شامل ہے۔جبکہ وزیراعظم نوازشریف اور وزیراعلیٰ پنجاب شہبازشریف کے نام پر کوئی بھی آف شور کمپنی نہیں ہے۔پاکستان مسلم لیگ ق کے سربراہ چوہدری شجاعت حسین کے قریبی رشتہ دار وسیم گلزار اور زین سکھیرا کے نام بھی پانامہ کی فہرست میں شامل ہیں ۔


کاروباری شخصیات
پانامہ کی جانب سے لیک کیے گئے دستاویزات میں جو کاروباری شخصیات آف شور کمپنیاں رکھتے ہیں ان میں صدر الدین ہاشوانی اور ان کے بیٹے مرتضیٰ ہاشوانی،ملک ریاض اور ان کے بیٹے احمد علی ریاض،اینگرو کارپوریشن کے حسین داود،سیفائر ٹیکٹسائلز کے یوسف عبداللہ،شاہد عبداللہ،ندیم عبداللہ ،عامر عبداللہ کے نام شامل ہیں ۔ان کے علاوہ لکی ٹیکسٹائلز کے گل محمد تابا ،مسعود ٹیکسٹائلز کے شاہد نذیر ،ہلٹن فارما کے شہباز یاسین ملک ،حبیب بینک لمیٹڈ کے سلطان علی آلانہ ،بکسلی پینٹس کے بشیر احمد اور جاوید شکور ،برجر پینٹس کے ڈاکٹر محمود احمد ،اے بی ایم گروپ آف کمپنیز کے اعظم سلطان ،پیزاہٹ کے اکیل حسن اور ان کے بھائی تنویر حسن ،یونیورسل کارپوریشن پرائیویٹ لیمیٹڈ کے ذوالفقارپراچہ ،سورتی انٹرپرائیزز کے عبدالراشد سورتی اور ان کے خاندان کا نام شامل ہے ۔


میڈیا مالکان
پانامہ لیکس کے دستاویزات میں پاکستانی میڈیا گروپس متعدد برجوں کے نام بھی شامل ہیں جن میں ایکسپریس میڈیا گروپ کے ذوالفقار لاکھانی فہرست میں ٹاپ پر ہیں جبکہ چینل 24کے گوہر اعجاز ،جیو اور جنگ گروپ کے مالک میر شکیل الرحمان بھی آف شور کمپنیا ں رکھنے والے افراد میں شامل ہیں ۔
وکلاءاور ججز
پانامہ دستاویز کے مطابق آف شور کمپنیاں رکھنے والے افراد میں متعدد پاکستانی وکلاءاور ججز کے نام بھی شامل ہیں جن میں لاہور ہائیکورٹ کے جسٹس فارخ عرفان اور جسٹس ملک قیوم کا نام شامل ہے

Panama Papers Leaks Pakistan

http://www.chutki.pk/10759​

 

[alisajid]

Panama Papers: List of Pakistani politicians, businessmen who own companies abroad

A massive collection of leaked documents including details about offshore companies operating in multi-layered secrecy has revealed names of people from around the world, including Pakistani politicians, businessmen, bankers as well as a serving high court judge and a retired judge.
The names found in the secret files range from those of Prime Minister Nawaz Sharifs family to Punjab Chief Minister Shahbaz Sharifs relatives; from Benazir Bhutto to Javed Pasha; from Senator Rehman Malik to Senator Osman Saifullahs family; and from Waseem Gulzar (a relative of the Chaudhrys of Gujrat) to Zain Sukhera, who was co-accused with former Prime Minister Yusuf Raza Gilanis son in the Hajj scandal.

Businessmen featured in the record range from hotel tycoon Sadruddin Hashwani to real estate czar Malik Riaz Hussains son; from the Hussain Dawood family to the Abdullah family of Sapphire Textiles, Gul Muhammad Tabba of Lucky Textiles as well as Shahid Nazir of Masood Textiles and from Zulfiqar Ali Lakhani to Zulfiqar Paracha.
Members of the bar and the bench were also spotted in the documents include one serving judge of the Lahore High Court, Justice Farrukh Irfan; and one retired judge, Malik Qayyum. The owner of Hilton Pharma, Shehbaz Yasin Malik opened the company for a Swiss bank account. Chairman ABM Group of Companies Azam Sultan, Pizza Hut owner Aqeel Hussain and Chairman Soorty Enterprise Abdul Rashid Soorty were also identified along with the family members.
At a global level, the ICIJ and its partners discovered the offshore companies controlled by the prime minister of Iceland, the late father of UK prime minister, children of Azerbaijans president, the king of Saudi Arabia, associates of Russian president Vladimir Putin who stashed two billion dollars through banks and shadow companies, the Ukrainian president and brother-in-law of the Chinese president, among other prominent figures. Meanwhile, the BBC said that names 72 former and current heads of state have surfaced in the documents.
As many as 29 billionaires featured in Forbes Magazines list of the worlds 500 richest people and movie star Jackie Chan have also figured in the list of company owners in addition to the family of Bollywood stars Amitabh Bachchan and Aishwarya Rais family.
Records spanning four decades buried behind the tight wall of secrecy are on open display now confirming doubts and fuelling debate about the offshore jurisdictions like the British Virgin Island, Panama, and Seychelles etc. Data made available is of one little known but a big law firm based in Panama, Mossack Fonseca, having global footprints in terms of its offshore clients.
Over 200 Pakistanis have been identified and the counting is still in progress. The data under examination covers nearly 40 years from 1977 through the end of 2015. Pakistanis started figuring in the record from 1990 onward.
The family of Prime Minister Nawaz Sharif is conspicuous due to its political profile. The record identifies four companies in the ownership of Maryam Nawaz, Hussain Nawaz and Hassan Nawaz. Punjab Chief Minister Shahbaz Sharifs relatives Samina Durrani and Ilyas Mehraj have also figured in the documents examined.
A company earlier accused in the oil-for-food bribery scandal also resurfaced in the record reconfirming the late Benazir Bhutto, her nephew, Hassan Ali Jaffery and Senator Rehman Malik as the only three shareholders of Petroline International Inc.
Javed Pasha has been found linked to five companies. The remaining shareholders in those companies are prominent businessmen of Indian origin.
None but Sadruddin Hashwani, Ilyas Mehraj, Justice (r) Malik Qayyum and Aqeel Hussain responded among the above-mentioned individuals when contacted for their versions that have been incorporated. When contacted some said that to own and run an offshore company is lawful and according to the rules and regulation while some did not reply.
Examination of data indicates that some are beginners in this secret world, others incorporated the companies but left them dormant ending at dissolutions whereas many have kept them active using them for the intended purposes.
The record of ownership varies as it ranges from emails to spreadsheets, passports, signatures of shareholders, bank accounts details, property documents, resolution of directors and contact details in Pakistan and abroad.
The overall data indicates that many of the owners of such companies from different parts of the world were also involved in drug trafficking, robberies, and cheating.
Associates of Dawood Ibrahim, Junaid Iqbal Memon, Nadiya Javed Malik and Hajra Iqbal Memon also own companies. In response to a query about the source of funding they replied to the British Virgin Islands administration that funds are generated through borrowing/loan.
The files examined by ICIJ and its partners found a convicted money launderer who claimed he had arranged a $50,000 illegal campaign contribution used to pay the Watergate burglars, drug kingpins, tax evaders and, at least, one jailed sex offender owning offshore companies.
The files contain new details about major scandals ranging from Englands most infamous gold heist to the bribery allegations convulsing FIFA, the body that rules international soccer.
Although no offshore entity is directly owned by Prime Minister Nawaz Sharif and Punjab Chief Minister Shehbaz Sharif, as many as eight companies have been identified that are linked either with Hussain Nawaz, his sister, and brother or Shahbazs relatives, the documents show.
Maryam Nawaz is the secret beneficial owner of two companies set up in 1993-94. She is also the shareholder of another company jointly owned by her and Hussain Nawaz. Hassan is the sole owner of yet another offshore holding. The companies have last been used for purchasing six properties in London during 2007-8.
Shahbaz Sharifs relative Ilyas Mehraj has been mentioned as a major shareholder of a company though he firmly denies it. Another relative of the Punjab CM Samina Durrani owns three companies; the latest was opened in 2010.
Nescoll Limited, Nielson Holdings Limited, Coomber Group Inc., and Hangon Property Holdings Limited are four companies owned by Maryam, Hussain, and Hassan.
As many as six properties were purchased in London during 2007 and 2008 through these offshore companies.
Nescol, Nielsen, and Coomber entered into a mortgage deal of seven million pounds with a Swiss bank, Deutsche Bank (Suisse) SA, for four properties. Hangon bought two properties through a loan from the Bank of Scotland.
Although Hangons loan amount is not mentioned, documents indicate that the company itself was purchased along with its stock for 5.5 million pounds by Hassan Nawaz in 2007 from a Liberian citizen.
The oldest company among the four is Nescoll Limited. It was registered on January 27, 1993. Nielson Holdings Limited was incorporated on April 14, 1994. Both of them subscribed to the services of Mossack Fonseca on July 26, 2006, and Minerva Services Limited, a British Virgin Island-based corporate service provider, acted as proxy shareholder being represented through Neel Sehai and Mark Andrew.
Mossack Fonseca was their administrator when Nescoll, Nielson, and Coomber obtained a mortgage of seven million pounds from the Swiss bank through these companies and purchased flats: 16, 16a, 17, and 17a at Avenfield House, 118 Park Lane, London, W1K 7AF. While Maryam is the sole beneficial owner of Nescoll and Nielson, Coomber is jointly owned by Maryam and Hussain.
Meanwhile, the Bank of Scotland sanctioned a loan of an unknown amount to the Hassan-owned Hangon for the purchase of property at 1 Hyde Park Place, London, W2.
Hassan transferred the company to another agent from Mossack Fonseca in 2008, the activities that followed couldnt be found in the leaked record, the remaining three companies also changed their agent in 2014 hence the post-transfer business remains unknown.
As many as four companies have been linked with the relatives of Shahbaz Sharif. Haylandale Limited, a company registered in the Bahamas on July 24, 2003, shows Habib Waqas Group/Ilyas Mehraj as a shareholder owning 127,735 shares. Other shareholders are Credit Suisse Life & Pensions (125,000 shares), High Octane Fund (900,000) and Michael Mates (100,000).
A resolution passed at a meeting held on September 4, 2004, states that It was further resolved that the Secretary and Director shall effect a transfer of shares of 400,000 shares to Mark Wilson from Haseeb Waqas Group/Ilyas Mehraj.
Ilyas Mehraj however categorically denied this impression. We have read the contents of your email and are surprised at the contents thereof. We are not aware of any company whether incorporated in the Commonwealth of Bahamas or anywhere else under the name: Haylandale Ltd. The question of our Group, which is Haseeb Waqas or Mr. Ilyas Mehraj having any shares of the said company, does not arise. Therefore, we are unable to answer the queries on the same, his spokesman replied.
Samina Durrani owns three offshore companies: Rainbow Limited, registered in BVI on September 29, 2010; Armani River Limited, registered in the Bahamas on May 16, 2002, and Star Precision Limited, registered in BVI on May 21, 1997.
The assets of Armani have been described as a property in London, which is not currently rented. In the case of Star Precision Limited, described asserts are cash as the investment portfolio. We are also holding 1,165,238 shares in Orix Leasing Pakistan Limited.
While politicians gain attention due to their public profile, a majority of names found in the leaked record of offshore companies are of businessmen. Prominent among them are tycoons of the hotel industry, textile sector, real estate, pharmaceutical industry, bankers and media owners.
Zulfiqar Lakhani of the Lakson group, CEO of three companies (Colgate-Palmolive, Tetley Clover and Clover Pakistan) has been identified as a secret beneficial owner of a company registered in the British Virgin Islands, Lezayre Ltd since 2000. Proxy shareholders are Benson Equities Inc., Brock Nominees Limited, and Tenby Nominees Limited.
Information shared only on December 4, 2015, with BVI identifies him as the beneficial owner having businesses in Pakistan. Activities carried out through the company have been described as asset holding, bankable asset. The source of wealth has been mentioned as proceed to inheritance and business earning, CEO of Colgate-Palmolive (Pakistan) Ltd and Tetley (Pakistan) Ltd.
Founder of the Hashoo Group, Sadruddin Hashwani, is a secret beneficial owner along with his son, Murtaza, of the First Global Investments Holdings Limited, registered in BVI that is run through corporate proxies as the shareholders are North Atlantic Services Limited and Rushlake Hotels (USA) Inc., registered in Florida, yet another tax haven.
When beneficial owners of the companies were disclosed upon the insistence of the BVI administration, they turned out to be Sadruddin Hashwani and his son, Murtaza Hashwani. The companys activities have been described as investment and asset holding with main countries of activities being Pakistan, Nigeria, USA, and UAE. About the major shareholder, Rushlake Hotels (USA) Inc., documents described Rushlakeas specializes in Estate Planning, Real Estate.
First Global also owns shares of Orient Petroleum Inc and a mortgage deal of 30 million pounds was signed with Standard Bank PLC., for the Orient. Another company, Celtico Capital Management, is owned by Murtaza Hashwani. A detailed explanation of the Hashoo Group has been given at the bottom.
Ahmed Ali Riaz, son of property tycoon, Malik Riaz, was a shareholder of Westhorpe International Limited, a BVI registered company. When contacted, he said he had nothing to do with that company. He explained that not a single project of his was abroad. He said they had advertised their projects and attracted a huge number of overseas Pakistanis who invested billions of rupees in Pakistan in these projects and this fact appears prominently in their tax statements. He maintained that nothing could be established against them despite opposition from some figures in government and some in the legal community.
Shehbaz Yasin Malik, the owner of Hilton Pharma, registered a company, Bladehurst Inc., in BVI in 2000. The purpose of setting it up has been described as for holding a bank account which is at Dresdner Bank, Zurich, Switzerland. Five family members are signatories of the account including his father, brothers, and wife. Questions sent for version have not been answered.
The Abdullah family of Sapphire Textiles Mills Limited has been identified in connection with as many as five companies registered in BVI and Seychelles. All of them were incorporated in April-May, 2014. Silver Lands Estate Limited, registered in BVI, has Muhammad Abdullah and his wife as shareholders, records show. Beneficial owners information, a document reads, will be kept in our record of confidentiality. Estimated value of assets to be held by the company has been described more than one million dollars. Same is the asset description of Green Dale Management Limited having shareholders, Yousuf Abdullah, and wife.
Shahid Abdullah and his family control the shares of Green Dale Management Limited. Nadeem Abdullah and family are shareholders of Desert Properties Limited. Amer Abdullah and family own Microtex Holding Limited. Questions sent for the version to the Abdullah family have not been answered.
Two companies linked to the Hussain Dawood family are in the files. Carlino Limited, registered in BVI in 2005, identify its directors as Hussain Dawood, Shahzada Dawood, and Abdul Samad Dawood, two offshore companies (Bazaar Investment Limited and Razaran Investment Limited) and one Saad Raja.
In August 2009, the Dawoods transferred shares to Bazar and Razaran and resigned. Who are the beneficial owners of Bazar and Razaran remain anybodys guess as they are controlled through corporate proxies? Questions sent for versions have not been answered. Before Carlino, another company by the name of Eshter Finance Limited was registered in BVI in 2004 with Hussain Dawood, Shahzada Dawood and Abdul Samad Dawood, its shareholders.
Sultan Ali Allana, Chairman of Habib Bank Limited, and Khawaja Iqbal Hassan, former NIB bank President, held the power of attorney of Swiss Fixed Income Advisors, S.A. registered in BVI in April 1999. A letter from ABN AMRO N.V. London advised to its Singapore branch for the issuance of a draft of one million dollars favoring USB AG and to hand that over to either Sultan or Iqbal upon production of a passport. The Swiss Fixed Income Advisors was dissolved after this. Their detailed version in response to The News questions has been given at the bottom.
Shahid Nazir, CEO of Masood Textile Mills, has been identified in connection with a Bahamas-based company, Redford International Ltd, registered in 2000. The power of attorney was granted in his favour and that of Naziya Nazir with the bank account at ABN AMRO N.V. London. Questions sent for version were returned with an objection that This is not my wifes name. As a matter of fact, The News didnt claim that Naziya is his wife and that was explained. He didnt answer later.
Slot Rapid, a BVI registered company of 2005, has proxy directors whereas the power of attorney is with Bashir Ahmed and Javed Shakoor of Buxly Paints and Dr. Mehmood Ahmed of Berger Paints. The companys investor account has been maintained with Central Depository Company of Pakistan Limited. Questions sent for version have not been answered.
Azam Sultan of ABM Group of Companies has been identified as the owner of five companies in Panama along with his wife and son. They are ABM Worldwide Technologies, Salateen International Corporation, Wheaten Enterprises Inc., Sason International Corporation and Royston International Corporation Inc. Questions sent for version have not been answered.
The owner of Pizza Hut (Pakistan), Aqueel Hassan and his brother, Tanwir Hassan, have been shown as the owners of Austell SA Aqueel. They replied to questions by saying that the company was created by his brother who had a business plan for the Middle East other than Pakistan and that he was not aware whether it was used or not.
Zulfiqar Paracha of Universal Corporation (Pvt) Ltd owns Munawara Holdings Inc., in Panama that was registered in 2014. He together with his family members are the shareholders. The source of the companys income has been described as business profit. Questions sent for version have not been answered.
Mir Shakil-ur-Rahman of the Jang Group registered a BVI company, Marine Properties Limited, on October 22, 2001, that remained inactive and was eventually dissolved.
The version of the Hashoo Group: It is customary to have holding companies incorporated offshore in the Oil & Gas sector, there are several foreign E&P companies operating in Pakistan with this structure. This is indeed quite normal not only done in Pakistan but globally as well in all parts of the world and is in practice both for private and even publically listed companies. However, please note that this in no way compromises any statutory obligation such as taxes, royalties or other payments to GoP, because the branches operating in Pakistan have to comply with local regulations and are being monitored by regulatory authorities i.e DGPC, FBR, SECP, BOI etc. Likewise, First Global is only a holding Company of Orient Petroleum International Inc, (OPII), whereas OPII was working in Pakistan through registered branch as allowed by Authorities and has fully complied the requirements of the Ministry of Petroleum & Natural Resources, SECP, BOI, FBR under the rules and regulations. Since the operations were in Pakistan so all taxes attributable to the laws of Pakistan were fully complied and deposited i.e Taxes, Royalties, Federal Excise Duties & Sales Tax into the government treasury. First Global is also meeting all the regulatory requirements as required by law in all jurisdictions without hiding any information or details.
A version of Khawaja Iqbal Hassan on Swiss Fixed Income Advisors: 1) The funds you have referred to in your email were sent by UBS Securities Pakistan limited to UBS AG as these were funds owed to UBS AG. 2) UBS Pakistan was a subsidiary of UBS AG and there were many transactions that were settled on a daily basis between them through banking channels involving inflows and outflows in foreign exchange for settlement of trades and investment banking. UBS AG is one of the worlds largest banks and was at the time one of the largest participants in Pakistans capital markets and investment advisory businesses.3) The funds you have referred to in your email were sent through official banking channels after deduction of taxes and the remittance was made officially from the books of UBS Securities Pakistan limited and from its bank account to Swiss Fixed Income Advisers SA for making the entire payment to UBS AG by way of a bank draft.4) The entire funds you have referred to in your email were handed over to UBS AG in the form of a bank draft on which the beneficiary is clearly stated as UBS AG. UBS AG has evidenced receiving this bank draft. As such the entire amount of funds officially remitted was after deduction of taxes and paid officially to UBS AG.

Source: http://www.pakistantoday.com.pk/2016/04/04/national/panama-papers-list-of-pakistani-politicians-businessmen-who-own-companies-abroad/

 

[Pathfinder]

Abb doray mulk se bahir ziada hon ge ya kam. wese bhi izzat kia fazool chez hai in logon ke leye.