Panama Papers: Hussain Nawaz dismisses involvement in any wrongdoing

Leaked confidential documents spanning over nearly 40 years that spell out the extensive use of tax havens by politicians, world leaders and celebrities to launder money and evade taxes through one of the most secretive companies the Panamaian law firm Mossack Fonseca has taken the world by storm.

Many Pakistanis have also been named in what has become known as the Panama Papers, The documents identify many Pakistani business tycoons and politicians including late two-time Prime Minister Benazir Bhutto as well certain members of the ruling Sharif family (excluding PM Nawaz Sharif and his brother CM Punjab Shahbaz Sharif) to have use tax havens to hide their wealth.

While most have avoided the questions, the ruling Sharif family’s spokesman and the eldest son of Pakistani Prime Minister Nawaz Sharif spoke to Geo News and explained his position on offshore accounts.

He explained that there was no need for him to hide his wealth in England adding that maintaining offshore companies is a legal option available in various countries to avoid paying unnecessary taxes.

Hussain told Geo News that there are clauses present in Pakistan’s law that excuse him from filing his tax returns since he left the country in 1992.

When asked about offshore investments Hussain Nawaz Sharif responded that his family had been engaged in industries for generations and the amount for investment came from the sale of their steel mill in Jeddah in 2006.

Hussain Nawaz Sharif made it clear that Nawaz Sharif and Shahbaz Sharif do not have any assets or wealth or offshore companies abroad.

Responding to allegations from Imran Khan, Hussain said his family was ready to voluntarily appear before any investigation agency including the National Accountability Bureau (NAB) to clarify their position. Clarifying his position in Geo News' program 'Aaj Shahzeb Khanzada Kay Sath' Hussain responded to Imran Khan's claims and said “Imran Khan says whatever comes to his mind.”

“Money did come from Pakistan to meet our living expenses during the time of exile…but nothing came from Pakistan to establish businesses abroad,” Hussain Nawaz said while speaking in Geo News programme ‘Aaj Shahzeb Khanzada Kay Sath’.

He said no channel or publication contacted him to seek any detail in connection with the disclosures made in the Panama papers.

However, he said, Umar Cheema, who is associated with The News International, had sent him emails but he did not respond to those.

Earlier on Monday Hussain spoke with Geo News, below is the complete telephone-interview with Hussain Nawaz Sharif in Urdu: