Mamnoon terms Panama Leaks ‘a natural disaster’

“The Panamagate is a natural trap. The bigger the thief is, the more luxuriant is his life. The corruption has adversely affected every institution of the country and now there is need to launch collective efforts to eliminate this menace,” he said while addressing a ceremony of Kotri Association of Trade and Industry in Kotri.

This is the first time the President has commented on Panamagate after additional hundreds of Pakistanis have been named, in the second stash of Panama Papers leaks, including some leaders of the opposition parties.

The president said youth constitute 50 to 60 percent of the population and they should come forward in the fight against corruption.

He also said that completion of China Pakistan Economic Corridor (CPEC) project will transform Pakistan into a regional trade hub.

“The mega project of CPEC envisages not only construction of motorways but also many power plants including nuclear,” he said.

Mamnoon Hussain said Central Asian States were also demonstrating interest in the CPEC adding that the project will also generate hundreds of thousands of new job opportunities for the youth.

It is pertinent here to mention that Panama Papers have revealed hundreds of Pakistanis’ names having offshore companies, including senior politicians of different parties. Prime Minister Nawaz Sharif is also one of them and the opposition has kicked up a storm against him for answering on the issue. Hence, the PM is expected to address the parliament on Monday to clarify allegations leveled against him.