Difficult to prove wrongdoings against Panama accused, informed Senate body

The Senate Standing Committee on Finance has been informed that the judicial commission constituted by Pakistan to investigate all accused featuring in Panama Papers will not be able to prove any wrong doing as there exists no law under which the government can seek information from the countries concerned about offshore companies.

An official of the State Bank, who briefed the committee in this regard on Wednesday, assured the Senators of extending cooperation to the judicial commission for probing the leaks.

At the same time, the committee was informed that under the law, an individual can carry up to $10,000 out of the country. But permission from the State Bank was required in case an individual wanted to take an amount ranging between $10,001 and $5 million out of the country, Dawn reports.