JNN 23 Sept 2016 Karachi  – While the Panama Papers leaks, which exposed over 400 Pakistanis linked to offshore companies registered in tax havens some six months ago, still remain to be investigated, the latest publication by the International Consortium of Investigative Journalists (ICIJ) has named another 150 Pakistanis who own shady firms in Bahamas.

The latest data leak carries 1.3 million files which provide names of directors and some owners of more than 175,000 Bahamian companies registered between 1990 and early 2016. Among them, around 150 Pakistanis were also identified as directors of nearly 70 companies.

Obaid Altaf Khanani, the son of Pakistan’s notorious money changer Altaf Khanani who is currently in the custody of US authorities on terror financing and money laundering charges, is on the top of the list.

Jamaat-e-Islami’s leader Professor Khurshid Ahmed is one of the prominent names in the leaks. However, while responding to the questions forwarded by an ICIJ partner journalist, he said he was not financially involved, but only served as an employee.

The Bahamas-based company linked to Professor Khurshid Ahmed was banned by the United Nations and the United States, after 9/11 attacks for suspicious dealing.

Popular Afghan businessman Ahmed Ratab Popel, who is also being investigated for narcotics smuggling and corruption, also used a Pakistani address to register a company in Bahamas. Popel is the cousin of former Afghan President Hamid Karzai and is also considered a close aide of Mullah Abdul Zaeef –Taliban regime’s former ambassador to Pakistan.

Lahore High Court judge Mohammed Farrukh Irfan’s again surfaced as a director of a Bahamas-based firm, after his name was mentioned in the Panama Papers leak. Irfan transferred his offshore company to his daughter, one year after he was sworn as LHC judge.

Samina Durrani, the mother-in-law of Punjab Chief Minister Shahbaz Sharif, also registered offshore firm in Bahamas, however, the ownership of the company has been kept anonymous due to certain unknown reasons.

Former Health Minister Naseer Khan’s son named Gibran also owns a Bahamian entity. His name was also mentioned in the Panama Papers.

Just like Panama Papers leaks, most of the Pakistanis owning shady companies in Bahamas are also businessmen. Their businesses range from financial services to steel mills, textile industry to insurance corporations, chemicals to security services, and construction to asset management.

Some prominent names included Raza, Hasnain, Rafique, Hyder, Imran, Aun and Sajjad of a single business family which has six offshore companies on Bahamas Leaks.

The owner of Captain PQ Chemical Industries and director of Standard Chartered Bank, Spenta Kandawalla, is also a director of the Bahamian firm.

According to media reports, among those named in the Bahamasdocuments include Jibran Khan, the son of Mohammad Naseer Khan, a former health minister of Pervez Musharraf government; former Senator Professor Khurshid Ahmed; Mohsin Abu Bakar Sheikhani, a tycoon of the construction industry; and Tehmina Durrani’s mother Samina Durrani.

Obaid Altaf Khanani, son of money-changer Altaf Khanani also reportedly owns offshore companies in Bahamas.

The Bahamas is a constellation of 700 islands, many smaller than a square mile. It is one of a handful of micro nations south of the United States whose confidentiality laws and reluctance to share information with foreign governments gave rise to the term “Caribbean curtain.”

Most of these companies were registered between 1990 and 2011, according to the latest documents leaked by the International Consortium of Investigative Journalists (ICIJ). Over 150 Pakistanis have been named in what is called the Bahamas leaks, owning offshore companies.

In total, the new cache provides names of politicians and others linked to more than 175,000 Bahamian companies that were registered between 1990 and 2016. Since the majority of companies had been registered in 1990s, the Federal Board of Revenue would not be in a position to take any action against them, even if they evaded taxes.

According to income tax laws, the FBR can open cases of tax evasion by a filer for a period of up to five years while in case of a non-filer, the maximum threshold is 10 years.

In April, the ICIJ had leaked documents of Panama law firm, Mosack Fonseca, of companies registered in tax havens. The cache named over 600 Pakistanis. Of them, the FBR had identified 444 persons so far. Among them, 150 persons owned over 600 companies in Pakistan, tax authorities have yet to take any meaningful action against them.

The state institutions that were supposed to initiate an investigation into the Panamagate scandal refused to shoulder the responsibility during a meeting of the Public Accounts Committee on Tuesday.

According to the information available on the ICIJ website, the Exxon Mobil Pakistan LNG was incorporated in June 2011 in Bahamas through Harry B Sands, Lobosky.

The Gem Pakistan Power Partners Limited Company was incorporated on April 27, 1994 in British Virgin Islands and is linked to Guernsey. The Pakistan Powerpack (UK) Limited was incorporated in British Virgin Islands on August 8, 1994. The Hunt International Petroleum Company Pakistan Limited was incorporated in Bahamas on March 15, 1990.

In mid 1990s, the PPP government had implemented a new power policy, allowing independent power producers to establish businesses.

The Heritage Oil Pakistan Sanjawi Limited was incorporated on November 22, 2007, in British Virgin Islands. This company is still active. The Sanjawi group has huge stakes in Pakistan’s oil and gas sector.

The Mtranzact Pakistan Limited was incorporated on November 22, 2007. Its jurisdiction remains undetermined. Its status is dead now.

The Esso Exploration and Production Pakistan Limited was incorporated in May 1992 and was struck off in 1997. It was connected through one intermediary and registered in Bahamas.

The Pakistan Japan Petrochemical Limited was incorporated in 1991 through one intermediary. However, it was struck off in August 2002. The company was registered in Bahamas.

The KERR-MCGEE Pakistan Limited was incorporated in July 1991 through one intermediary. This company was also struck off in January 1996. The VeeTee Pakistan Holdings Corporation was incorporated in April 1993 through one intermediary. This company was also struck off in February 2015. This company was also registered in Bahamas.

The Union Texas Pakistan Power Limited was incorporated in Bahamas in June 1996 through one intermediary. The Pakistan Mest and Dairy Processing Limited 529 was incorporated in Bahamas in October 1996, but was struck off in January 2000. The Tel Tran International Pakistan Limited was incorporated in Bahamas in July 1999 but was struck off in April 2003.

The Islamabad International Limited Company was registered in Bahamas in June 2013 through the Royal Bank of Canada Trust Company (BAH). The Karachi Holdings Limited was incorporated in September 1994 through Santander Bank and trust (Bahamas) Ltd

Mohsin, Arshad, Amjad, Abid and Ahmed, Salim, Hamida, Enam, Shaukat, Shafqat, Sultan, Irshad, Yasmeen, Farhana, Danus and Naushad are other notable names of the businessmen.

The Bahamas Leaks also carried several international names as well, i.e. former EU Competition Commissioner Neelie Kroes, former Columbian minister for mines and energy Carlos Cabellero, the son of former Chilean dictator Augusto Pinochet, Argentina’s president Mauricio Macri and his father Francisco and brother Mariano, and UK foreign secretary Amber Rudd.

 

List of Pakistani Persons who are Involved in Bahamian Companies :

 

Reg. Date	Year	Owner-Director	City
1/9/2016	2007	Sultan	Karachi
1/9/2016	2007	Irshad	Karachi
1/9/2016	2007	Yasmin	Karachi
1/9/2016	2007	Farhana	Karachi
1/12/2016	2011	Muhammad Saleem	Karachi
1/12/2016	2011	Muhammad Asif	Karachi
1/12/2016	2011	Muhammad Shafi	Karachi
1/12/2016	2011	Muhammad Iqbal	Karachi
1/12/2016	2011	Muhammad Qasim	Karachi
1/12/2016	2006	Akram Mohyuddin	Lahore
1/21/2016	2015	Ali	Islamabad
1/21/2016	2004	Sohail Ahmed	Karachi
1/24/2016	2007	Syed Muhammad	Islamabad
2/1/2016	2012	Khurram
2/1/2016	2012	Sheraz
2/12/2016	2007	Muhammad Hanif	Karachi
2/12/2016	2007	Rubina	Karachi
2/12/2016	2007	Muhammad Owais	Karachi
2/13/2016	2004	Ahmed Rateb	Islamabad
2/13/2016	2004	Rashid
2/19/2016	2008	Arif Noor Mohammad	Karachi
2/19/2016	2008	Noor Arif	Karachi
2/19/2016	2008	Abid Mohammad	Karachi
2/19/2016	2008	Naveed	Karachi
2/24/2016	1995	Rafiq	Karachi
2/29/2016	2000	Sheikh Arshad Javed	Karachi
3/1/2016	2000	Raza Khan	Islamabad
3/1/2016	2000	Kamyab	Islamabad
3/7/2016	2005	Naveed Hussain	Karachi
3/19/2016	2008	Iqbal	Karachi
3/19/2016	2008	Abdul Rauf	Karachi
3/19/2016	2008	Yasir	Karachi
3/19/2016	2008	Askari Asghar	Karachi
3/26/2016	2004	Khawar	Lahore
3/26/2016	2004	Shahzad Aziz	Lahore
3/26/2016	2004	Javed	Lahore
3/26/2016	2004	Izzat	Lahore
3/26/2016	2004	Javed Ahmed	Lahore
3/26/2016	2004	Izzat Majeed	Lahore
4/6/2016	1992	Mohammad Siddique	Karachi
4/6/2016	1992	Makhdoom Ali	Karachi
4/6/2016	1992	Mohammad Shoaib	Karachi
4/6/2016	1992	Abbas Abdullah	Karachi
4/6/2016	1992	Zehra	Karachi
4/6/2016	1992	Zahida	Karachi
4/8/2016	2008	Salim	Karachi
4/8/2016	2008	Hamida	Karachi
4/8/2016	2008	Marzia	Karachi
4/10/2016	2008	Khurram
4/10/2016	2008	Sarah
4/11/2016	1996	Mohammad Hyder	Karachi
4/11/2016	1996	Mohammad Asad	Karachi
4/11/2016	1996	Mohammad Siddique	Karachi
4/11/2016	1996	Makhdoom Ali	Karachi
4/11/2016	1996	Zahida	Karachi
4/11/2016	1996	Abbas Abdullah	Karachi
4/11/2016	1996	Mohammad Shoaib	Karachi
4/11/2016	1996	Zehra	Karachi
4/11/2016	1996	Imran	Karachi
4/11/2016	1997	Prof. Khurshid Ahmed	Islamabad
4/14/2016	2000	Muhammad Farrukh	Lahore
4/14/2016	2000	Maria Farrukh	Lahore
4/15/2016	2010	Sheikh Arshad	Karachi
4/15/2016	2010	Amjad	Karachi
4/15/2016	2010	Abid	Karachi
4/15/2016	2010	Ahmed Amjad	Karachi
4/19/2016	2006	Mohsin Abu Baker	Karachi
4/19/2016	2006	Sohail Mumtaz	Karachi
4/21/2016	2010	Gaffar	Karachi
4/26/2016	2007	Nadeem	Karachi
4/26/2016	2007	Khalid	Karachi
4/29/2016	2008	Yasir	Karachi
4/29/2016	2008	Askari Asghar	Karachi
4/30/2016	2009	Muhammad Ali	Karachi
5/6/2016	2004	Muhamamd Usman	Karachi
5/6/2016	2004	Muhammad Ikhlaq
5/6/2016	2004	Masood Pervez
5/13/2016	1991	Abdullah Jan	Bahawalpur
5/13/2016	1991	Shahwez Akhtar	Bahawalpur
5/16/2016	2002	Samina	Peshawar
5/18/2016	2006	Asif Riaz	Karachi
5/18/2016	2006	Gohar Ejaz	Lahore
5/18/2016	2006	Mohammed Saleem	Karachi
5/18/2016	2006	Mohammad Altaf	Karachi
5/18/2016	2006	Muhammad Shafi	Karachi
5/24/2016	2012	Shafqat	Lahore
5/24/2016	2012	Enam	Lahore
5/24/2016	2012	Shaukat	Lahore
5/30/2016	2006	Syed Muhammad Ali	Karachi
5/30/2016	2006	Arsalan
5/30/2016	2006	Muhammad Usman	Karachi
6/2/2016	1998	Ameed	Karachi
6/2/2016	1998	Naveed	Karachi
6/2/2016	1998	Ateed	Karachi
6/4/2016	1998	Max Rudolf
6/4/2016	1998	Shaheena Malik
6/5/2016	2008	Nadeem Khalid	Karachi
6/12/2016	2003	Nadeem	Karachi
6/12/2016	2003	Khurram	Karachi
6/15/2016	1992	Mohammad Siddique	Karachi
Reg. Date	Year	Owner-Director	City
6/15/2016	1992	Makhdoom Ali	Karachi
6/15/2016	1992	Muhammad Hyder	Karachi
6/15/2016	1992	Zahida	Karachi
6/15/2016	1992	Abbas Abdullah	Karachi
6/15/2016	1992	Mohammad Shoaib	Karachi
6/15/2016	1992	Zehra	Karachi
6/16/2016	2011	Kamran	Karachi
6/16/2016	2011	Imran	Karachi
6/16/2016	2011	Abdul Jabbar	Karachi
6/22/2016	2011
6/22/2016	2005	Muhammad Ahmed	Karachi
6/22/2016	2005	Muhammad Ahmed	Karachi
6/22/2016	2005	Muhammad Ahmed	Karachi
7/14/2016	2005	Muhammad Amin	Karachi
7/14/2016	2005	Muhammad Hanif	Karachi
7/14/2016	2005	Muhammad Rauf	Karachi
7/14/2016	2005	Muhammad Ayub	Karachi
7/14/2016	2005	Muhammad Jawad	Karachi
7/14/2016	2005	Muhammad Ahmed	Karachi
7/17/2016	2006	Aun Mohammad	Karachi
7/17/2016	2006	Sajjad	Karachi
7/26/2016	2007	Muhammad Irshad
7/26/2016	2007	Muhammad Taimoor
7/27/2016	1990	Imran	Karachi
7/27/2016	1990	Ali Raza	Karachi
7/27/2016	1990	Hasnain	Karachi
7/27/2016	1990	Murtaza	Karachi
7/27/2016	1990	Salman	Karachi
7/27/2016	1990	Munawar	Karachi
7/27/2016	1990	S. M. Hayder	Karachi
8/3/2016	2005	Muhammad Zakaria	Karachi
8/3/2016	2005	Muhammad Irfan	Karachi
8/3/2016	2005	Muhammad Saleem	Karachi
8/3/2016	2005	Muhammad Qasim	Karachi
8/3/2016	2005	Asad	Karachi
8/11/2016	2009	Obaid Altaf	Karachi
8/16/2016	2004	Muhammad Jawed	Karachi
8/16/2016	2004	Muhamamd Saleem
8/21/2016	2003	Dr. Tariq Mehmoood
8/21/2016	2003	Nur Banu
8/21/2016	2003	Ikramullah
8/21/2016	1997	Gohar Ullah	Hyderabad
8/21/2016	1997	Asad	Hyderabad
8/21/2016	1997	Humayun	Hyderabad
8/21/2016	1997	Tanwir	Hyderabad
8/31/2016	2006	Asif Riaz	Karachi
8/31/2016	2006	Saqib Haroon	Karachi
8/31/2016	2006	Muhammad Shafi	Karachi
9/1/2016	1997	Ali	Rawalpindi
9/1/2016	1997	Raazia Ajmal	Rawalpindi
9/1/2016	1997	Fatima	Rawalpindi
9/7/2016	2004	Naushad Haroon	Karachi
9/10/2016	2004	Sohail Ahmed	Karachi
9/10/2016	2004	Khalid Mahmood	Karachi
9/10/2016	2004	Naila Mahmood	Karachi
9/20/2016	2007	Sheikh Nadeem Zafar	Lahore
9/20/2016	2007	Shafqat Rashid	Karachi
9/20/2016	2007	Quaid Johar	Karachi
9/20/2016	2007	Raheel Mazhar	Karachi
9/20/2016	2007	Ahmed Sheikh	Lahore
9/21/2016	2004	Muhammad Hussain	Karachi
9/29/2016	2003	Abdullah Jan	Bahawalpur
9/29/2016	2003	Shahwez Akhtar	Bahawalpur
9/30/2016	1998	Sajjad
9/30/2016	1998	Shahab
10/10/2016	1997	Mohamed Gibran	Lahore
10/10/2016	1997	Mohamed Zeeshan	Lahore
10/10/2016	1997	Mahvash	Lahore
10/14/2016	2005	Karim	Karachi
10/14/2016	2005	Danus	Karachi
10/14/2016	2005	Spenta	Karachi
11/5/2016	2008	Sohail Ahmed	Karachi
11/10/2016	2004	Muhammad Munaf	Karachi
11/10/2016	2004	Muhammad Amin	Karachi
11/29/2016	2004	Muhammad Aslam	Karachi
11/29/2016	2004	Muhammad Irshad	Karachi
11/29/2016	2004	Mohammed Zafar	Karachi
11/29/2016	2004	Moosa	Karachi
11/29/2016	2004	Abdul Jabbar	Karachi
11/29/2016	2004	Imran	Karachi
12/11/2016	2003	Sultan	Karachi
12/11/2016	2003	Irshad	Karachi
12/11/2016	2003	Yasmin	Karachi
12/11/2016	2003	Farhana	Karachi
12/23/2016	2003	Khalid	Karachi