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Sharif family denies Panama leaks

Sharif family denies Panama leaks

Staff Reporter

ISLAMABAD: After the Sharif family was named in the Panama Papers ─ one of the biggest leaks in history ─ Prime Minister Nawaz Sharif's son, Hussain Nawaz Sharif, told Geo that his family had done "nothing wrong" as they defended their ownership of offshore companies.

The Panama Papers leak, comprising 11.5 million documents from Panama-based law firm Mossack Fonseca, shows how some of the world's most powerful people have secreted away their money in offshore jurisdictions.

Among those named are three of Nawaz's four children ─ Maryam, who has been tipped to be his political successor; Hasan and Hussain, with the records showing they owned London real estate through offshore companies administrated by the firm.

"Those apartments are ours and those offshore companies are also ours," Hussain said in comments aired by the channel Monday.

"There is nothing wrong with it and I have never concealed them, nor do I need to do that."

"It is according to British law and laws of other countries that it is a legal way to avoid unnecessary tax via offshore companies."

He left Pakistan in 1992 and is therefore not resident, he said, adding that Pakistani tax law "says that if you are not staying in Pakistan for more than 138 days, then you are not required to declare your assets".

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