Image default
Pakistan Top Stories

Panama Leaks: Karachi holds more off shore companies than other cities

KARACHI- Panama leaks, greatest data leaks ever occurred in world have created a spur throughout the world. Huge number of Pakistanis including political personalities, celebrities and their relatives has also been listed in the papers for holding off shore companies.

According to the details, Pakistanis comprise 400 individuals listed in the Panama leaks, the greatest outbreak of data. As the figures have been analyzed it has been found that Karachi holds most of the offshore companies owned by Pakistanis. It holds 153 off shore companies. While Lahore owns 108 companies and Islamabad has 19 0ffshore companies.

With digging in further, it has been revealed that Clifton area of Karachi consists of individuals owning 35 companies and DHA has 19 companies.

As for Islamabad, 18 companies are owned by DHA residents.

It is pertinent to mention here that Panama leaks have disclosed names from around the world having properties in tax havens. The recent leaks are the second tranche and more is yet to come as hinted by International Consortium for Investigative Journalists, ICIJ in a disclaimer.

The revelations have spurred populates of different countries. It is pertinent to mention here that in Pakistan, the outgoing and incoming foreign currency is protected by law and is not supposed to be investigated.