Probe into offshore accounts: establishment of commission to help extract facts: Soofi

The establishment of an inquiry commission announced by Prime Minister Nawaz Sharif to probe the offshore accounts, held by his three children, would help extract the facts. Noted lawyer Ahmer Bilal Soofi said that setting up offshore companies was not illegal as they could be used for legitimate purposes, but "the hue and cry is about the source of funds in these companies - is it through corruption or through money laundering or through terror activities?" he added.
He said it was a very good step that Prime Minister Sharif presented himself for accountability which was a very good decision. "I was not expecting him to form a commission and thought he may give the task to a single agency, which could have been futile as it is a multi-dimensional task," he added.
Hamid Khan, renowned leader of Pakistan Tehreek-e-Insaf said that legitimacy of the offshore company was a small aspect of what people wanted to know; the major point of interest was to determine the need to set up those offshore companies. Khan stated that he would reserve judgement on the merits or demerits of setting up the judicial commission once the name of the retired judge who would lead the inquiry had been announced.
"We're also waiting for the terms of reference (ToR) of the commission and once those are announced, we will be in a better position to comment as at the moment we've only heard that the prime minister is going to form a commission," he added. However, he said that instead of formation of a commission, the government should have given the task to investigating agencies like India had formed a multi-agency authority to probe the issue.
"The need of the hour is to find out the facts...what is the source of the money? And how it was transferred to these offshore companies? These questions should be properly investigated," he added.
Salman Akram Raja said the announcement of the commission by the Prime Minister was a good step, adding the government should hold a thorough probe so that people could know the reason behind the decision to set up in these offshore companies. He said the formation of a commission was a good option, but all relevant departments should also be included in the investigation process in order to ensure whether the process and proceeds were legal or illegal.