Javed Iqbal directs to expedite seeking record on Offshore companies

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ISLAMABAD : Chairman NAB, Justice Mr. Javed Iqbal has directed to expedite the seeking of information and record from State Bank of Pakistan, SECP and FBR sans sustaining any duress.

And inquiry should be concluded in accordance with merit and in light of Law and evidence. Chairman NAB Justice Mr. Javed Iqbal chaired a meeting at NAB headquarters.

The meeting reviewed the preliminary inquiry report of 435 offshore companies owned by Pakistanis in Panama and British Virgin Islands.

Chairman NAB directed to expedite the seeking of information and record from State Bank of Pakistan, SECP and FBR sans sustaining any duress. And inquiry should be concluded in accordance with merit and in light of Law and evidence.

The persons who own offshore companies in Panama and British Virgin Islands included former chairman FBR Abdullah Yousaf.

Mr Yousaf owns Green Deal Management , Greenwood Investor. Shahid Abdullah and Shayan Abdullah own Greenwood Investor. Usman Yousaf owns Malboro and six companies of Ameer Abdullah are also included.

Chairman NAB directed to get information about the offshore companies of other Pakistanis at the earliest and ask reasons of establishing offshore companies and their sources of income including money trail from the owners of the offshore companies. The officers have also directed to inquire the offshore companies had been established and money transferred abroad through banking channels or money laundering. Whether national exchequer had not been looted or caused losses through corruption.

Orignally published by NNI

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