ISLAMABAD - The combined opposition led by the Pakistan People’s Party and the Pakistan Tehrik-e-Insaf could share a table with the government soon to finalise Panama Leaks investigations, sources said.

Earlier, the government expressed its willingness to engage the opposition for talks to prepare unanimous Terms of Reference (TOR) for the investigation of the Panama Leaks scandal that has hit the rulers hard. Law Minister Zahid Hamid and Prime Minister's Special Assistant on Law Barrister Zafarullah said the government had decided to form a committee to negotiate with the opposition.

Zahid Hamid claimed the government’s TOR were more comprehensive than the opposition but Prime Minister Nawaz Sharif was still ready to discuss the issue with the opposition.

Khurshid Shah, Opposition Leader in the National Assembly, also delayed writing a letter to the prime minister after the new development and is expected to communicate with the premier today (Thursday) to carry forward the process further.

Shah was meanwhile in contact with the other opposition parties to chalk out a joint strategy amid the emerging situation.

PPP sources said Bilawal Bhutto Zardari and Asif Ali Zardari were not against holding a meeting with the government if it could lead to any solution.

Sources said the parties were in principle not against the meeting with the government “if they are ready to listen.” “We have met before and can meet again. We are not inflexible,” a senior PTI leader said.

Even as Shah’s office said the letter will be written on Thursday, a fake letter – allegedly from the opposition leader - was circulated in the media. Hours later, it transpired that the letter was not written by Shah and had been issued to the media by some unknown group. Shah’s office said the matter was being investigated.

Khurshid Shah’s aides said he never writes any letter to the PM on a plain piece of paper and uses his letterhead. “The letter will be written tomorrow (Thursday) after consultation with the other parties,” said an aide of the opposition leader.

Shah was in contact with PTI’s Shah Mahmood Qureshi, Jamaat Islami Chief Sirajul Haq, Awami Muslim League leader Sheikh Rashid Ahmed and others to finalise a strategy a day after the opposition parties agreed on their own TORs to probe the Panama Leaks.

Although Prime Minister Sharif pledged to resign if found guilty, the opposition parties believe he could use his influence as the premier to his advantage.

Three of Sharif’s four children are named in the Panama Papers - daughter Maryam Nawaz Sharif and sons Hasan Nawaz Sharif and Hussain Nawaz Sharif. The records showed they owned London real estate through offshore companies administered by Mossack Fonseca.

The leaked papers, comprising 11.5 million documents from Panama-based law firm Mossack Fonseca, exposes how some of the world’s most powerful people have secreted their money offshore.

Speaking to journalists yesterday, Khurshid Shah said he would consult all opposition parties before writing letter to PM Nawaz Sharif and then the opposition’s TOR for the inquiry commission would be sent formally to the government.

He said the letter would not be written by opposition to Supreme Court because it was the duty of the government to implement it. About the content of the letter, Shah said it would ask the government to consider the opposition’s TOR and seriously investigate the issue without any delay.

Opposition leader in the Senate Aitzaz Ahsan demanded the Prime Minister to present himself for accountability in accordance with the joint TOR.

He said the opposition parties had rejected the government’s TORs. He asked the prime minister to disclose details of his tax returns and income since the time he was Punjab’s chief minister. Senior members of opposition parties had met this week at Aitzaz Ahsan’s residence to prepare TORs in Panama Leaks issue. The opposition parties could not reach consensus over seeking prime minister’s resignation.

The main opposition parties – the PPP and the PTI – believe the Prime Minister should resign on moral grounds while some smaller parties want to give him time till he is proven guilty. Prime Minister Sharif also held consultations with his aides yesterday over the opposition’s TORs.

The opposition said the Judicial Commission should first examine all foreign assets of the prime minister and his children with the help of international audit firms and then the investigations should move on to the other people named in the Panama Papers.

The TORs say a Panama Commission Trial and Inquiry Act should be promulgated under which a judicial commission headed by Chief Justice should be set up to hold an inquiry.