ISLAMABAD, May 18: A parliamentary committee has been constituted to agree on joint Terms of Reference (TORs) for a judicial commission which will investigate the Panama Papers data leak, Information Minister Pervez Rashid announced on Wednesday.
The committee will have equal representation from both the opposition and ruling coalition parties. “The parliamentary committee will comprise 12 members – six from the opposition parties and six from the government,” Rashid said.
Earlier today, opposition and government lawmakers delivered fiery speeches and took jibes at each other on the floor of the National Assembly as the House began its debate on the Panama Papers scandal to reach consensus on having it investigated.
Opposition lawmakers returned to the House today, ending their boycott following Prime Minister Nawaz Sharif’s speech in the National Assembly two days ago.
Prime Minister Nawaz had asked parliament to form a commission to investigate allegations stemming from the Panama Papers leak.
Leaked confidential documents spanning over nearly 40 years that spell out the extensive use of tax havens by politicians, world leaders, and celebrities to launder money and evade taxes through one of the most secretive companies the Panamaian law firm Mossack Fonseca, had taken the world by storm.
Prime Minister Nawaz has been under pressure since documents released as part of the Panama Papers data leak showed his children owned several off-shore companies and used them to buy properties in London.
The leak of documents has captured global attention, uncovering among other things the use of off-shore businesses by wealthy individuals and corporations worldwide.
While such off-shore companies are often not illegal per se, their use spurs suspicions of illegal activity, such as money-laundering, corruption, and tax evasion.-Agencies
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