In a major setback for Pakistan Prime Minister Nawaz Sharif, the Pak Supreme Court on Thursday ordered to form Joint Investigation Team to probe against Prime Minister Nawaz Sharif and his two sons in connection with Panama Paper leaks.
NewsMobile Editor-in-Chef Saurabh Shukla LIVE on NewsX analysing Pak SC verdict:
The Supreme Court has ordered a probe by a Joint Investigation Team, which has to submit a report in 60 days.
According to reports, two judges on the five-judge bench ruled in favour of disqualifying Nawaz Sharif as Pakistan PM.
Sharif’s three of his children were allegedly linked to offshore accounts in the Panama Papers leaks.
However, Sharif and his family denied any wrongdoing, dismissing the claims as politically motivated.
The government says it is confident that Sharif will be cleared.
The Supreme Court agreed to investigate Sharif’s offshore wealth late last year after opposition leader Imran Khan threatened street protests.
The focus of the probe is on the funds used to purchase property in London using offshore companies.
Sharif says the wealth was acquired legally. But his critics have suggested offshore companies were used to launder illegally-obtained wealth or avoid taxes.
The Supreme Court’s five-member bench could clear the prime minister, order further investigations or even remove him from office.
The Panama Papers – 11 million secret documents leaked from Panama-based law firm Mossack Fonseca – set out the offshore financial activities of political and business leaders and the wealthy elite around the world.
Video Courtesy: Geo News