A simple and detailed guide to understanding the scandalous ‘Pandora Papers’

According to the report, several of PM Imran Khan's inner circle members have transferred millions abroad.

Pandora Papers.
Pandora Papers.

The Pandora Papers are a leak of almost 12 million documents that expose hidden wealth, tax avoidance, and money laundering among the world’s elites.

It is the world’s most extensive journalistic collaboration and involves more than 600 journalists from around 150 media outlets in 117 nations.

The data has been obtained by the International Consortium of Investigative Journalists (ICIJ) in Washington, D.C.

According to the ICIJ, around $5.6 trillion to $32 trillion () have been hidden aboard in offshore companies by the world’s elites.

Meanwhile, the International Monetary Fund (IMF) has estimated that tax havens have caused a loss of $600 billion () in taxes to governments worldwide.

Among the well-known destinations for tax havens include the United Kingdom (U.K.), the British Virgin Islands, Seychelles, Hong Kong, Belize, Panama, Switzerland, and Singapore.

Some revelations from Pakistan

The ICIJ remarked that Prime Minister Imran Khan promised a “new Pakistan,” but several of his inner circle members have transferred millions aboard.

Over 700 Pakistanis have been listed in the Pandora Papers.

Some of these individuals and their actions include:

  • Top Pakistan Tehreek-e-Insaf (PTI) donor Arif Naqvi has been involved in several scams, including robbing the world’s elite of their money. He owns several offshore companies.
  • The Minister of Finance, Shaukat Tarin, and his family members own four offshore companies.
  • Omar Bakhtiar, the brother of the Federal Minister of Industries and Production, Khusro Bakhtiar, transferred a $1 million apartment in London’s Chelsea area to his mother.
  • The former Federal Minister for Water Resources, Faisal Vawda, set up an offshore company in the U.K. in 2012.
  • The son of the former Advisor to Prime Minister on Revenue and Finance, Waqar Masood Khan, co-owned an offshore company in the British Virgin Islands.
  • Chaudhry Moonis Elahi, a leader of the Pakistan Muslim League (Q) and a key political ally of PM Imran Khan, planned to hide the proceeds of a corrupt business deal from the tax authorities.

Other Pakistani individuals listed in the Pandora Papers include Pakistan People’s Party (PPP)’s Sharjeel Memon, Pakistan Muslim League (PML-N)’s Ishaq Dar‘s son, PTI leader Abdul Aleem KhanAxact Chief Executive Officer (CEO) Shoaib Sheikh, the wife of Gen. Shafaat Ullah Shah, retired army lieutenant Raja Nadir Pervez, former Inter-Services Intelligence (ISI) director-general Maj. Gen. Nusrat Naeem, sons of the former head of Pakistan airforce Umar and Ahad Khattak, and others.

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