Following the revelations of Pakistani politicians, businessmen and former government officials in Pandora Lakes, the FBR has launched an investigation against all those whose names have come to light.
A senior FBR official, speaking on condition of anonymity, told Urdu News that the federal government had instructed the FBR to investigate the accounts immediately after the arrival of Pandora Lakes.
The government had written to the FBR for a large-scale investigation. A team of a dozen top officers has been formed to check all the accounts of the seven names coming to Pandora Lakes.
He said that the FBR team formed on Pandora Lakes would not only check the accounts of all the individuals but also collect all kinds of material related to offshore companies.
From the facts that have come to light in Pandora's Lakes, it is still difficult to gauge the extent to which the Pakistanis named have violated the country's laws. In this regard, the team has been given the task to determine the extent to which legal aid can be obtained if cases are made on the basis of this information.
According to a senior FBR official, the federal government has given the department 15 days for a preliminary report.
"It will be clear in the initial report which direction this issue will take. Because if the country's laws are violated, criminal cases can be registered. The most important question will be about money laundering. How did the money for offshore companies move abroad?
Catching white-collar crime is not an easy task, he said, adding that investigations into the Panama Papers are still ongoing.
"The biggest problem is that the methods that people use for such matters are not against the basic law. Corporate crime is a very serious matter.
It may be recalled that after the arrival of the Panama Papers, the Supreme Court had formed a Joint Investigation Team to conduct a large-scale investigation against the then Prime Minister of Pakistan Nawaz Sharif.
According to the JIT report, he had to wash his hands of his prime ministership. However, investigations were also launched against other Pakistanis who appeared in the Panama Papers, but these investigations were never made public.
On the other hand, the opposition has rejected the cell set up by the government under the Prime Minister's Office to investigate the Pandora Papers.
Talking to Urdu News, Federal Minister for Information Fawad Chaudhry said that the government is serious about the investigation and the special cell has been set up so that all the agencies can investigate in one place. Wherever there is an illegal object against the names appearing in Pandora Lakes, there will be an arrest.
He said it was not clear why the opposition was trying to obstruct the investigation.
The FBR law stipulates that whenever there is a situation involving financial matters, an investigation is initiated through an internal mechanism. And it is not just in Pakistan but all over the world that financial watchdogs become involved in such scandals. This is part of their mission. Even if the opposition does not agree, these investigations will take place.
