Recent report of Panama Leaks has exposed many of the big names and celebrities for hiding their assets and investments in order to save taxes and other unethical gains. In History, no such magnitude of data has been released covering so many names. This leak is carrying the financial information that is supposed to be concealed or confidential. This group of data is so much enormous that it surpassed the leaks of Snowden.
It is basically a leak of one law firm that carries so many prominent names having the so many offshore funds. Name of that law firm whose data has been exposed or leaked is Mossack Foncesa, which itself is an offshore entity operating in the Panama jurisdiction. This leak is comprised of around 11.5 million documents that possesses the most dangerous and eye opening facts for the entire world. All the individuals included this list are either rich families or celebrities attempting to evade taxes.
As far as Pakistanis are concerned, around 200 powerful names have been founded in this list. The biggest of all is the family fo the Prime Minister Mian Muhammad Nawaz Sharif. He himself is not included but his children are found to have some offshore investments outside Pakistan, which is quite astonishing and surprising for the whole nation. Many of the party leaders are defending the morality of Prime Minister and hence, declared this leak as fake or fictitious.
This leak has the unknown origin but it does contain the effort of the dozens of reporters hired by the International Consortium of Investigative Journalists or ICIJ and also the contribution of the German Newspaper Suddeutsche Zeitung. Originally, this German Newspaper got the call from an unknown number after which further encrypted documents were supplied later.
Pakistani politicians and other people are benefiting from these kinds of offshore companies for decades and no investigation is conducted to unravel the actual loss of tax evasion.