According to the UN’s International Financial Accountability, Transparency and Integrity (FACTI) panel, a total of $7 trillion of stolen assets are parked in offshore tax-havens. The figure has been reported in the Pandora papers that leaked 11.9 million files from companies that specialize in creating offshore investment trusts. Following the Panama papers in 2016 and the Paradise papers in 2017, the Pandora papers are the latest major leak that exposes an alternative financial world where the super-rich can conceal their assets and pay negligible taxes.
Several Pakistanis have been named in the pandora papers with parked assets in tax havens abroad. The country’s Prime Minister Imran Khan has vowed to investigate the Pakistanis mentioned in the list and take appropriate actions against them. The premier has lauded The International Consortium of Investigative Journalists (ICIJ) for successfully exposing the ill-gotten wealth of elites accumulated through tax evasion and corruption.