Panamagate case: JIT formation ordered to probe Nawaz's family

ISLAMABAD: The Supreme Court of Pakistan Thursday has ordered to form a Joint Investigation Team (JIT) within seven days to investigate the Panamagate case.

In a much anticipated decision, which has grabbed the nation attention, the five member bench headed by Justice Asif Saeed Khosa announced the decision consist of 540 pages.

As per the latest reports, comprising of five judge Justice Asif Saeed Khosa, Justice Azmat Saeed, Justice Ijaz Afzal, Justice Gulzar Ahmed and Justice Ijaz-ul-Hasan, remained divided in the ratio 3:2. over the verdict as two of them suggested disqualification of the premier.

Justice Khosa and Justice Gulzar have called for the disqualification of PM Nawaz.

As per the SC orders, JIT would submit its report within 60 days, whereas, the names for JIT would be finalise in seven days to investigate the Panamagate case.

Prime Minister Nawaz Sharif, along with his sons Hasan and Hussain Nawaz would appear before the JIT.

The JIT was formed after Chairman NAB failed to perform his duty, reads the SC decision, reads the 540 pages decision. The JIT would submit its report before the bench after every two weeks.

The JIT would include officials from SECP, FIA, MI and ISI, it further added.

Last year, Panama Papers which refers to a leak of 11.4 million documents belonging to Mossack Fonseca, a Panama-based law firm. The leak named over 400 incumbent as well as former leaders of the world who owned offshore companies.

Iceland’s prime minister was forced to resign in the aftermath, after the leak showed his family sheltered assets offshore.

The case gripped the attention of the country ever since the Panama papers were issued showing the Prime Minister and his family to be the owners of offshore companies.

At the heart of the matter is the legitimacy of the funds used by the Sharif family to purchase several high-end London properties via offshore companies.

The revelations had raised serious concerns regarding the legitimacy of the family's wealth, offshore holdings and business interests, and catalysed opposition parties to rally for the investigation or resignation of the prime minister and his family members.

The government insists the wealth was acquired legally through family businesses in Pakistan and the Gulf.

Maryam Nawaz had initially dismissed the documents as a distortion of information, but the prime minister had to eventually relent and order a judicial probe into the allegations raised by opposition parties.