After weeks of finger pointing and mudslinging, a 12-member commission has been formed by the government to finalise the Terms of Reference (TORs) to probe the Panama Papers revelations. The commission has nominated six members each from the government and the opposition sides.
The notification has specified a period of two weeks for the Committee to submit its report to the parliament.
The names of opposition members surfaced last week, while on late Monday night a press release was issued by the Finance Ministry announcing the names of the government team. The government side includes Finance Minister Senator Ishaq Dar, Defence Minister Khawaja Muhammad Asif, Railways Minister Khwaja Saad Rafique, Housing and Works Minister Akram Khan Durrani, Senator Mir Hasil Khan Bizenjo and Information Technology Minister Anusha Rehman Khan.
The opposition has named Senator Aitzaz Ahsan of Pakistan People’s Party (PPP), Shah Mehmood Qureshi of Pakistan Tehreek-e-Insaf (PTI), Ghulam Ahmed Bilour of Awami National Party (ANP), Sahabzada Tariqullah of Jamaat-e-Islami (JI), Tariq Bashir Cheema of Pakistan Muslim League-Quaid (PML-Q) and Barrister Saif Ali Khan of Muttahida Qaumi Movement (MQM). Previously, Aftab Ahmed Sherpao of Jamhoori Watan Party was included in the team but he gave up his seat to make way for the MQM’s nominee.
Law and Justice Minister Zahid Hamid is to act in the capacity of ex-officio member of the committee.
The National Assembly Secretariat issued a notification for the formation of the committee on Tuesday. The notification not only lists the opposition and government members of the committee but also spells out the ‘Terms of Reference’ on which the committee shall work.
(1) Consider options for inquiring into important issues raised by the Panama Papers and other reports in the media regarding (i) Offshore companies (ii) Transfer from Pakistan of funds originating from corruption, commissions or kick-backs; and (iii) Written-off bank loans, with priorities to be determined by the committee and the most appropriate forum recommended.
(2) Formulate the TORs of such forum and determine the timeline for submission of the report. The committee shall be constituted by nominees six each of the government and opposition from both Houses. The speaker may replace any member of the committee on the request of the parliamentary party concerned. The committee shall submit its report to the parliament within two weeks.
The Supreme Court Bar Council and Punjab Bar Council have asked that the TORs be finalised in 15 days.
First meeting of the committee will be held on Wednesday May 25.
