Pakistani businessman, media moguls, military leaders in Pandora Papers

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Pakistani businessman, media moguls, military leaders in Pandora Papers

Last Updated : 04 Oct 2021 10:35:07 PM IST

Pakistani businessman, media moguls, military leaders in Pandora Papers

More Pakistani individuals ranging from media group owners to family members of army personnel to businessmen and executives were identified in the International Consortium of Investigative Journalists' (ICIJ) Pandora Papers — a major international research into the financial holdings of high-profile individuals around the world, Dawn reported.

The exposé was unveiled on Sunday and some of the names already reported include prominent figures from the PTI-led government including Pakistan Finance Minister Shaukat Tarin and Senator Faisal Vawda.

A report by The News published on Monday said Jang group editor-in-chief Mir Shakilur Rehman, Dawn CEO Hameed Haroon and Express Media Group CEO Sultan Ali Lakhani also owned offshore companies.

Renowned journalist and editor of Pakistan Today, the late Arif Nizami was also among those who had their names in the report. He owned New Mile Production Limited in BVI that was incorporated in July 2000 with him and his wife declared as its beneficial owners.

The report by The News identified more former military leaders and their family members named in the Pandora Papers.

According to the report, the son-in-law of former Punjab governor Lt Gen (retd) Khalid Maqbool, Ahsan Latif, owned an offshore company Dylan Capital Limited that was registered in the BVI jurisdiction.

It added that according to the documents, the company was incorporated for "investment holding for certain properties in the UK and the UAE, but it was used for importing LPG (liquid petroleum gas) from Russia's Vacus Oil Company Ltd".

Zahra Tanvir, the wife of Lt Gen (retd) Tanvir Tahir, was also identified by the report as owning an offshore company, Ener Plastic Limited, in the BVI jurisdiction.

Javed Afridi, owner of the Peshawar Zalmi franchise, also owns three offshore companies according to revelations from the Pandora Papers: Old Trafford Properties Ltd, Sutton Gas Works Properties Ltd and Gas Works Property Ltd.

According to the report, National Bank President Arif Usmani incorporated a company, Sasa Partners Inc, in the BVI offshore tax havens in March 2018. It added that the Pandora Papers revealed him to be the company's beneficial owner where he kept bankable assets.

The report also identified the managing director of National Investment Trust, Adnan Afridi, as having registered an offshore company, Veritas Advisory Services Ltd, in the BVI jurisdiction in October 2011.