- Shaukat Aziz and Ayaz Khan Niazi’s names are from Pakistan
The International Consortium of Investigative Journalists (ICIJ) has released a database of around 13.4 million documents revealing over 25,000 companies owned by the world’s rich and influential individuals.
The ICIJ coordinated the Panama Papers investigation into offshore companies.
The latest files have disclosed the financial details of politicians, corporations, and celebrities among others.
The Paradise Papers comprise a major part of documents leaked from the company ‘Appleby’.
The documents – obtained by a German newspaper from two companies in Singapore and Bermuda – have made public the data of over 25,000 companies owned by individuals from 180 countries, from 1950 to 2016.
Around 381 investigative journalists from 67 countries worked extensively to bring these facts before the people.
Senior The News reporter and ICIJ member Umar Cheema was also part of the team that unearthed the Paradise Papers.
In Pakistan, only Jang Group partners with the ICIJ.
Pakistanis named in Paradise Papers
Shaukat Aziz
Former prime minister of Pakistan Shaukat Aziz was found linked with Antarctic Trust.
Antarctic Trust set up by him whose beneficiaries include Aziz’s wife, their children and granddaughter.
Aziz had set up the trust in Delaware (USA) before becoming finance minister. Interestingly, the trust was neither declared during his stint as finance minister nor as prime minister.
Speaking through his attorney in New York, Shaukat Aziz said that he didn’t have to declare the trust in Pakistan as he was a settlor.
When asked if his wife or children declared the trust, he responded that they didn’t have to declare because they were beneficiaries, not the beneficial owners.
Aziz served as prime minister from August 28, 2004, to November 15, 2007 and was appointed as finance minister in 1999.
Aziz settled abroad after his tenure came to an end in 2007.
Ayaz Khan Niazi
Moreover, former National Insurance Corporation Limited chairperson Ayaz Khan Niazi has also been identified in the records in connection with four offshore holdings in British Virgin Islands.-Agencies
