Senate Body Considers Panama Papers' Inquiries Bill


Senate Body considers Panama Papers' Inquiries Bill

ISLAMABAD, Nov 8 (UrduPoint / Pakistan Point News - 08th Nov, 2016 ) : The Senate Standing Committee on Law and Justice Tuesday considered the Panama Papers' Inquiries Bill 2016 moved in the Upper House by opposition lawmakers on September 26, 2016.

The bill moved by the opposition lawmakers was discussed in detail which was about constitution of a Commission of Inquiry to inquire into the revelations made by the disclosures contained in the Panama Papers.

According to the statement of objects, "This bill seeks to provide a legal process for inquiries into the trans-national and trans-jurisdictional secreted transfers and deposits of vast sums of Pakistani rupees and resources by persons whose Names have been disclosed in the leaks of the Panama papers and by their family members.

Since funds have been secretly transmitted to, and parked or utilized in foreign countries behind corporate veils, and since the disclosures have been made by a reputable international body of investigative journalists, the category of persons named in the Panama leaks is distinct and stands apart.

For this purpose this new special law is designed to facilitate the State, through specific provisions providing for effective trans-national and trans-jurisdictional tracing and outreach, to uncover all those secreted funds, assets and properties." The meeting presided over by Chairman Senator Javed Abbassi deliberated on it and Senator Aitzaz Ahsan suggested some amendments in it which were not agreed by the opposition and treasury lawmakers.

Through voting, the committee decided to take further advice from Chairman Senate Mian Raza Rabbani on it. The treasury lawmakers were of the view that time period of two days is necessary before introducing any amendment while opposition lawmakers termed it as routine matter by saying that any change can be made during discussion in the committee.

Chairman Committee Javed Abbassi said, "It is an important matter and Chairman Senate should be approached for further opinion on it." The meeting was attended among others by movers of the bill and senior officials of the Ministry of Law and Justice. APP/muk/mir