LONDON, April 4: After the Sharif family was named in the Panama Papers Hussain Nawaz said that he had already stated that he owned the offshore companies and he owned many apartments under them, local media reported on Monday.
The Panama Papers 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.
Talking to a private news channel, Prime Minister Nawaz Sharif son said that he had been living abroad for many years and had invested there. He said that the family members accompanying him had certain privileges under Pakistani laws. He maintained that he had been doing business according to Pakistan’s foreign act and other Pakistani laws including the income tax laws.
Hussain said that the business community was in the know of many people who do not need to file their income tax papers if they live abroad for 180 days or more. Those who work abroad, he explained, know the fact that they are not questioned about their source of income.
He said that he had stated this time and again that Pervez Musharraf had extensively probed their business issues but he could not establish anything illegal against them.
Hussain said his family did not indulge in corruption, did not whiten black money and what was earned was through labour. He said their’s was a business family that had done real hard work before starting politics. He said they do hard work with honesty, but sadly some people were levelling allegations against them.
Hussain Nawaz said it is a common perception that they took loans from banks. “That means we deal in businesses of lakhs of rupees. “There are many others who are running businesses in others’ names, but we fully follow all rules and regulations in doing any business,” Hussain added.
He said Nawaz Sharif’s name was being used wrongly and all accusations being levelled against him were baseless. “I have already said that my sister Maryam is a trustee of our offshore companies. Her name has been included as a trustee like various other people,” he said adding that a trustee is not the owner. All legal brains know it well that no trustee remains the owner of any business after his/her death and all businesses are run according to certain rules and regulations. -Online
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