'High-level cell' under PM’s Inspection Commission to investigate Pandora Papers — information minister

Prime Minister Imran Khan attends a cabinet meeting in Islamabad, Pakistan, on December 10, 2018. (Photo courtesy: PID/File)
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Updated 05 October 2021
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'High-level cell' under PM’s Inspection Commission to investigate Pandora Papers — information minister

  • Information minister says media moguls named in Pandora Papers to be probed by electronic media regulator
  • Interior minister downplays scandal, says it “fizzled out” after Prime Minister Imran Khan promised investigation

ISLAMABAD: Pakistani Information Minister Chaudhry Fawad Hussain said on Monday Prime Minister Imran Khan had set up a high-level cell to investigate Pakistanis named in the Pandora Papers, a massive leak of financial documents allegedly tying world leaders, including Pakistanis, to secret stores of wealth. 
Major news organizations the world over published the Pandora Papers on Sunday. Among those named in the papers are more than 700 Pakistanis, including several members of Khan’s cabinet, according to the International Consortium of Investigative Journalists (ICIJ), a Washington-based network of reporters and media organizations that published the investigation.
The documents do not implicate Khan himself.
“The Prime Minister of Pakistan has set up a high-level cell under the Prime Minister’s Inspection Commission to investigate the Pandora’s Leaks,” Hussain said on Twitter.


In another tweet he said it was “unfortunate” that the names of owners of all major Pakistani media houses had been mentioned in the Pandora Papers, with many accused of money laundering.
“The information ministry is initiating transparent investigations in this regard and PEMRA [Pakistan Electronic Media Regulatory Authority] is being directed to seek explanation.” 

 


Among media owners named in the papers are Jang Group editor-in-chief Mir Shakilur Rehman, Dawn CEO Hameed Haroon and Express Media Group CEO Sultan Ali Lakhani.
Hussain’s comments came hours after Interior Minister Sheikh Rashid Ahmed downplayed the leak of financial documents, saying the scandal had “fizzled out” since Khan announced an investigation into the allegations.
“Pandora box [sic] has fizzled out. What is this, much ado about nothing?” Ahmed said at a weekly pressing briefing in Islamabad, adding that there was nothing new in the documents and the names mentioned “were already circulating.”
Khan has said his government would investigate all of those mentioned in the leaked documents.
“If any wrongdoing is established we will take appropriate action,” he said on Twitter on Sunday.
When asked if the matter would be referred to the Federal Investigation Agency (FIA) for investigation, the interior minister said it was the prerogative of the prime minister and Khan had already said all 700 people named would be investigated.
“Good enough,” he quipped.
The Pandora Papers are the latest in a series of mass ICIJ leaks of financial documents, from LuxLeaks in 2014, to the 2016 Panama Papers, the Paradise Papers in 2017 and FinCen files in 2020. 
One of Khan’s predecessors, three time PM Nawaz Sharif, was ousted by the country’s Supreme Court in 2017 over allegations made in the Panama Papers. He currently lives in exile in London.

 

 


Rating firm S&P says it won’t rush Iran war downgrades, sees risks for countries like Pakistan

Updated 12 March 2026
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Rating firm S&P says it won’t rush Iran war downgrades, sees risks for countries like Pakistan

  • Agency says it is monitoring indebted energy importers as higher oil prices strain finances
  • Gulf economies seen better placed to weather shock, though Bahrain flagged as vulnerable

LONDON: S&P Global ‌said it would not make any knee-jerk sovereign rating cuts following the outbreak of war in the ​Middle East, but warned on Thursday that soaring oil and gas prices were putting a number of already cash-strapped countries at risk.

The firm’s top analysts said in a webinar that the conflict, which has involved US and Israeli strikes ‌against Iran and Iranian ‌strikes against Israel, ​US ‌bases ⁠and Gulf ​states, ⁠was now moving from a low- to moderate-risk scenario.

Most Gulf countries had enough fiscal buffers, however, to weather the crisis for a while, with more lowly rated Bahrain the only clear exception.

Qatar’s banking sector could ⁠also struggle if there were significant ‌deposit outflows in ‌reaction to the conflict, although there ​was no evidence ‌of such strains at the moment, they ‌said.

“We don’t want to jump the gun and just say things are bad,” S&P’s head global sovereign analyst, Roberto Sifon-Arevalo, said.

The longer the crisis ‌was prolonged, though, “the more difficult it is going to be,” he ⁠added.

Sifon-Arevalo ⁠said Asia was the second-most exposed region, due to many of its countries being significant Gulf oil and gas importers.

India, Thailand and Indonesia have relatively lower reserves of oil, while the region also had already heavily indebted countries such as Pakistan, Bangladesh and Sri Lanka whose finances would be further hurt by rising energy prices.

“We ​are closely monitoring ​these (countries) to see how the credit stories evolve,” Sifon-Arevalo said.