Prime Minister Nawaz Sharif has announced the creation of a judicial commission to probe the claims of Panama Papers. He addressed the nation earlier today.
“I am here for the first time to address my personal issues in front of the nation,” he said. “I am here because some individuals degrading me and my family for personal interests.”
In his addressing the PM said Ittefaq Foundries was established before Pakistan’s independence. “Following Partition has developed as a huge organization. It was giving all its taxes. In 1971, the Ittefaq Foundry in Dhaka was destroyed amidst Pakistan’s disintegration. (Zulfiqar Ali) Bhutto grabbed the other in Lahore and all of the hard work of over forefathers was destroyed in moments,” he said. “Despite all these circumstances, my father did not lose heart and within years he established six more factories in Pakistan. In 1977 the Itteffaq Foundries was given back to us in terrible condition”.
The Prime Minister said these factories were established before he entered politics.
“It was all before kind of involvement in politic on my part. These organizations were giving taxes worth billions to the national treasure,” PM added. “Still we have been targeted for olitical revenge. During Benazir era our ship of raw material was stopped for n year in 1989, and we faced losses of 500 million. In her second tenure our business was again targeted in political revenge.
“Everybody knows what happened during the Musharraf era. We were sent abroad, our business was captured even our house was occupied by the dictator. All of our assets were scrutinized under the name of accountability. We have been targeted for years but we never lose heart.”
The PM further said that the family never broke any laws in Saudi Arabia. “Our father once again established the factory in Saudi Arabia, taking loan from Saudi banks,” he said. “The factory was sold and all the wealth was given to the sons. Both my sons are settled at abroad for years and doing business under the laws of these states.
Nawaz said corrupt people do not do business legally.
“My father has paid all the loans worth about Rs 5.75 billion and we did not keep even a penny of the banks,” he said. “And we did it despite all the hardships we faced. I am hopeful that all the pretext of our business is clear to all of you. I only want to say that me or my family have never done any damage to the national treasure. All my attention is towards the progress of the country and I don’t have time to explain all the allegations,” he added.
The PM said that he was advised against addressing the nation on the issue.
“Most of companions were not in favour of this address. They said it will create more hype over the issue. But I want to tell the truth to my people of Pakistan,” he said.
Nawaz announced the creation of a judicial commission to probe the allegations.
“I have decided to establish a high level commission in which senior judges will be included and it will probe the case and tell the truth to the whole nation,” he said. “The people who put allegations against me and my family should present themselves in front of that commission and give the proofs if they have any.”