Finance Ministry takes notice of Bahamas Leaks

ISLAMABAD: Pakistan’s Finance Ministry has taken notice of the Bahamas Leaks. On the directives of Finance Minister Ishaq Dar, FBR, SECP and State Bank will initiate a probe into financial irregularities.

Finance Minister Isaq Dar said the probe should not be influenced by anyone’s status or position.  He added that the probe should be launched immediately.

After the Panama Papers revelations took many countries by storm, another cache of leaked documents has named around 150 more Pakistanis linked with offshore companies in the Bahamas, a constellation of over 700 islands located 12,900 kilometers away from Pakistan.

For the second time, Geo News has unearthed a major financial scandal — the Bahamas Leaks.

Out of 175,000 companies incorporated in Bahamas between 1959 and 2016, around 150 Pakistanis have been identified as directors of nearly 70 companies. The Bahamas Leaks is separate from the Panama Papers.

The list of Pakistani named in the Bahamas Leaks can be viewed here.