Panama Case verdict to be announced tomorrow

The decision which was reserved by the Supreme Court regarding the Panama Papers on February 23, is due to be announced tomorrow. According to the details, the verdict will be announced at 2 PM on April 20.

In anticipation of the approaching decision, security has been tightened around the country and especially the capital city of Islamabad. The stock market has also taken a hit as nervous investors are trying to pull their money out of the stocks.

On February 23, a five-member bench led by Justice Asif Saeed Khosa said that it will review all the angles of the case in details and would later announce a verdict. “It will not be short-judgement but a long judgement,” the bench maintained.

It was also being said that this particular decision will go down in history due to its unique outcome.

The Panama scandal emerged when around 11.5 million documents were leaked from the database of a Panama-based law firm called Mossack Fonseca in April 2016. The papers exposed prominent politicians, celebrities, businessmen and criminals who had set up offshore companies in different parts of the world.

Names of Prime Minister Nawaz Sharif’s children also came up in the papers, after which he came under fire from the opposition. The opposition parties accused the Sharif clan of widespread corruption and demanded a probe into the matter.

Pakistan Tehreek-e-Insaf, Jamaat-e-Islami, Jamhoori Watan Party and others filed a petition in the Supreme Court which the court took up on October 20, 2016. The hearing began in an open court and eventually the case was concluded and decision reserved on February 23. Headed by Justice Asif Saeed Khosa, the larger bench comprised Justice Ejaz Afzal Khan, Justice Gulzar Ahmed, Justice Azmat Saeed and Justice Ijazul Ahsan.

So far, all the political parties, including PML-N, have agreed to adhere to the SC decision, whatever the outcome may be.

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Posted by fatimaarshad on Apr 19 2017. Filed under Latest News, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.