Pakistan

PM Nawaz Sharif owns offshore company, reveals JIT report

ISLAMABAD: The Joint Investigation Team (JIT), constituted to investigate money laundering allegations against the Sharif family, in its damning report has unearthed an offshore company which it said was being managed by Prime Minister Nawaz Sharif.

The prime minister had been consistently denying having any offshore company, which is also evident from his tax returns and other property documents he had submitted along with his nomination papers to the Election Commission of Pakistan.

The Panama JIT revealed that the premier has been managing a UAE based offshore company namely Capital FZE.

According to the JIT report, during interrogation, PM’s son Hussain Nawaz said, “The offshore company was created by him to buy some properties in UAE, which was later dissolved for the purpose it was created never materialized. He said no other family member was associated with the company.”

Contrary to his statement, the report said, the probing team established that, “not only was the company remained functional till 2014 but it apparently was being managed under direct control of Mian Nawaz Sharif as chairman of the board.”

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