Finance Minister Shaukat Tarin and members of his family own four offshore comapnies. The Indian Express
After the publication of papers, Tarin tweeted:"In 2014, M E Developers LLC of Tariq bin Laden wanted to invest in Silkbank. They got In principal approval from the SBP and then opened four offshore accounts to raise structured finance to raise funds." In January 2016, Moonis, then a member of Punjab’s provincial legislature, met with officials at Asiaciti Trust, a financial services provider that specializes in offshore wealth management. Records show that Elahi told Asiaciti staff that he wanted to invest money from the 2007 sale of land owned by Phalia Sugar Mills, an Elahi family business.
Asiaciti commissioned Thomson Reuters Risk Management Solutions,a unit of the financial information giant, to conduct an “enhanced due diligence” check. Elahi provided Asiaciti with the contract from the $33.7 million Phalia Sugar Mills sale as the source of the funds he wanted to invest, records show. In other words, Elahi asked Asiaciti to invest the proceeds of an allegedly corrupt loan obtained from a state-owned bank.
The plan called for a trust to hold an investment vehicle, funded by the “sale of a sugar mill,” that would own two properties in the UK. A woman with the same name as Jahangir appears as a 9.4% shareholder in the RYK Mills – the business targeted as an investment in Elahi’s talks with Asiaciti. ICIJ tried to contact Jahangir for comment but did not receive a response.
The industry dominates the valuable agricultural land of Punjab and is one of the biggest water users in one of the most water-stressed countries in the world. It is also among the world’s largest producers of sugarcane and uses enough water each year to fill Australia’s Sydney Harbour more than 45 times.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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