LAHORE - “The Panama leaks controversy has damaged the ruling PML-N on moral grounds but it has no legal value as neither the judicial commission nor any other government agency has power and jurisdiction to probe it in different countries,” said Justice (r) Mian Aftab Farrukh in an interview with The Nation yesterday.

He said Panama leak is just an information which can be investigated by the National Accountability Bureau. But, he made it clear that it was not binding on the investigating agency of any other country to extend its support to a Pakistani agency.

Mr Farrukh said it was possible that all assets made by Sharif family had been made from foreign sources. He said nobody should forget that the Sharifs had extensive support from the Saudi royal family.

Answering a question, Justice Farrukh said Panama leaks seemed an international conspiracy hatched against stability of Pakistan's economy. China and Russia were also the targets of the leaks.

In his opinion, CPEC would bring about an economic revolution in the region and this was exactly what was not acceptable to many international powers.

Asked how the issue could be investigated when opposition parties were not accepting the Terms of Reference framed by the government for the judicial commission, he said National Accountability Bureau was already there which could investigate it.

He said NAB could hold inquiry and trial of the accused on the basis of which responsible ones could also brought to justice. As for the judicial commission, he said, its report would be nothing but a mere evidence which could be treated like reports of the previous commissions.

The NAB, he said, should be empowered to investigate Panama leaks and recruit as many people as it needs for this purpose. NAB, he said, was far better than any judicial commission.

“What happened of the inquiries and findings of the previous inquiry commissions", he asked, implying that new inquiry would also have no impact.

He said he believed that the Chief Justice of Pakistan may also refuse heading any new commission.  The CJP will consult his colleagues and then decide whether to head the commission or not to investigate the Panama leaks issue,” he said.

When asked if there is any legal way for the Sharif family and others accused of having offshore companies, Justice Aftab Farrukh said there was no law in Pakistan that could proceed against anyone accused of having offshore companies.

This aspect, however, could be investigated under the country’s laws if it was alleged that the money invested in offshore companies was shifted from Pakistan, he added. 

Asked what would be the legal value of the Panama leaks if the name of PM was deleted from the list, the former judge said their legal value was nothing even if the PM's name was part thereof. However, the institutions of other countries concerned may hold inquiry on how the money invested in offshore companies was earned or taken from.

To another question what would be the impact of inquiry commission’s report or finding of any government’s agency on the ruling party, he said it would be premature to say anything on the subject at this stage.

“Panama leaks have damaged the ruling party morally, though, legally it has no such impact as the PM is holding counter rallies and he has refused to take pressure from the opposition,” he stated.