Once the cat is out of the bag, it’s not too hard tracking offshore accounts
This one came so fast they couldn’t even play the democracy-in-danger card. Plus this one was clearly out of Imran’s – and ISI’s – league. And PPP made it clear they won’t help the government save democracy again after N refused to help with Dr Asim, etc. Yet word is the London trip is all about re-engaging with Zardari. Bilawal denied it, but Nawaz didn’t exactly deny it. But all that is already ancient history. What matters is what now, and there’s only so many routes any investigation can take.
‘Banks, no matter how secret, keep numbers; especially when it comes to numbered accounts. And when governments approach with Panama Papers like requests, they are obliged to share details’
If only one or two people would realise one or two things, this investigation would not be such a problem. it’s been a while since N understood an investigation was inevitable, no matter how tame. And if Imran would only stop fussing and let the retired judge – who’s an expert in international banking – find out his judiciary does not have the capacity to investigate offshore financial wizardry, everybody will understand that the Commission, too, would need the ‘forensic audit’ to proceed. That’s where things become not-so-complicated. Pakistan’s richest may have numbered accounts, but they leave a little to be desired when it comes to understanding the rudimentary working of international financial markets.
Banks, no matter how secret, keep numbers; especially when it comes to numbered accounts. And when governments approach with Panama Papers like requests, they are obliged to share details. The French and German, among others, made good use of this facility to repatriate some of the money that fled the last recession illegally. And as the Panama Leaks continue, and take more heads, more countries will come for their money.
The Pakistani investigation, too, will not have much trouble finding the facts, even if the process takes some procedural time. Now, let’s assume hussain Nawaz – financial genius that he is – kept his father’s name out of the loop. he will still struggle explaining the source of the millions, if not billions. That will eventually land at N’s door. That much is the quantifiable part. After that, it is back into the Commission’s domain; and for it to decide whether N deserves the chop for non-disclosure, of sorts, or just a slap on the wrist.
‘Imran clearly thinks he’ll be let off lightly, and his mid-term election dream will have to wait. For those who think the dharna is an obsession, remember the Zardari days, when he wanted mid-term elections till the last year?’
Imran clearly thinks he’ll be let off lightly, and his mid-term election dream will have to wait. For those who think the dharna is an obsession, remember the Zardari days, when he wanted mid-term elections till the last year? The probability that all the Papers might eventually achieve is an embarrassment Nawaz will carry to the election – which he’s no stranger to – is disappointing for imran. he wants to give toppling N another go even if there’s only a hint of a chance. PPP thinks differently; it’s in no position for an election. it’s much, much happier with N nursing a red nose all the way to ’18.
There’s just one thing missing from everybody’s concerns. While N chases Zardari in London, and imran and Nisar and Dar and some others are also there, and an investigation is about to begin, nobody has talked much about the impact this particular drama is having on the country and the people. The economy’s still at four-and-a-half per cent, and oil is turning enough to raise prices here. And if the exogenous cushion goes now, there’s no telling what impact it will have on prices. Hopefully Dar sb will be back from London before things get hot. And the people might not have much say now, as they watch their defenders of democracy and their alpha-seeker children, but they will soon enough; when our billionaire leaders with hidden offshore bank accounts come asking for votes so they can maintain their lifestyles.
