Karachi leads Pakistan addresses in Panama Papers

Latest Update: May 10, 2016 | 274 Views
Panama Papers-Karachi

KARACHI: Another Panama Leaks bomb has gone off revealing some hitherto unknown names hailing from political, showbiz and business communities of Pakistan.

Karachi leads Monday’s leaks as 64 addresses of Karachi have been unveiled; of them, 16 addresses were found located in DHA and eight in Clifton.

Lahore addresses are 41 in number followed by 25 addresses of Islamabad.

It should be mentioned here that over 200,000 offshore companies, their international clients, associated with Panama law firm Mossack Fonseca were revealed in last month’s leaks.

Three children of Prime Minister, Nawaz Sharif also came to the fore in previous leaks.

These companies were made in British Virgin Island, Bahamas and Panama. As many as 153 Pakistanis owns offshore companies in British Virgin Island.

Standing out are Karachiites who own 150 offshore companies abroad. 56 owners of such companies belong to Karachi’s Defence and 35 others are from Clifton.

Over 100 citizens of Lahore also hold such companies.

According to Panama Leaks, Saifullah family tops the list with such holdings as seven of its members run the affairs of over 30 companies. The most prominent is Javed Saifullah, who has 17 offshore accounts to his credits.

According to Panama Leaks, the oldest company was created in the name of Mian Ziaud Din Toor in 1988. Meantime, the latest one was registered in 2015 in Majid Siddiqui Dawood’s name.


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