On 3 April 2016, the
German newspaper Süddeutsche Zeitung announced that a set of 11.5 million
confidential documents that provide detailed information about more than 214,000
offshore companies have being leaked. Panama leaks have many faces, far most
important one is about legality of Offshore Company. It is fact that offshore
companies are legal. Out of 245 countries in world, offshore companies are
incorporated in many countries, also investment in those offshore companies is
not a big task. After investment, the capital is use in Real Estate business,
Factories are established, and trade is being setup. Also government and Secret
Agencies from all over the world do trade via these offshore companies. They
made secret deals via them. Technology, Weapons and other secrets Sensors are
being purchased through the links of these offshore companies. They operate
different secrets operations via them.
The main reason behind the success of Nuclear Programs of Pakistan and India is
offshore companies, in late 70’s offshore companies were made in America and
Europe to supply different nuclear equipment. These companies have done their
job very effectively. America, Europe and Gulf countries use offshore companies
to fight the wars of Vietnam, Afghanistan, and Iraq. America with help of
offshore companies of Senator Charlie made it possible to use Israeli Weapons in
Afghan war in Zia-ul-Haq rule. Although Pakistan and Israel don’t have access to
each other land but still those weapons came first to Pakistan then transfer to
Afghanistan, all were made possible by offshore companies. Arab states used to
help Pakistan economically via offshore companies. Saudi Arab continue its oil
supply to Pakistan after the 1998’s nuclear tests again the channel was offshore
companies.
Due to offshore companies, Governments of Iran, Libya, Syria and Iraq did
survive after all the Global sanction. Still Bashar-ul-Asad, Syrian president is
handling all the governmental activities because of offshore companies they
have. All secret agencies, (ISI, CIA, Mosad, RAW, KGB, MI6) use offshore
companies in fact operates these offshore companies to operate in enemy land,
and to fulfil their job.
Above mention Restraint are the main reason that why those offshore companies
are legal all over the world after all the limitation they have. We have to
agree that even before Panama Leaks whole world was aware that many smugglers,
corrupts politician, drugs Dealer and other corrupts element are hiding before
this legal act. They are whiting their black money via these offshore companies.
But none of the country hadn’t take any step, why? The reason behind it was the
limit less opportunities and interests. Because they know if they made sanction
on offshore companies, they will neither be able to make deal (to buy) for
illegal weapons and destructive technology nor they can deal for having their
favorite person in government and all other out. They know that they will be
unable to do secret intelligence operation in enemies land. Therefore they
haven’t take any step against offshore companies in past 80+ years, not a single
legal action has be taken against them.
After Panama Leaks are out, European counties start making law against offshore
companies. Many counties are on their way to pass the law, but France is far
more ahead of other as France has passed a law against offshore companies.
According to which of owner of offshore will be punished jail for 7 years and an
amount of 15 lac Euro should be pay in term of plenty. Other European countries
like Spain, Germany and Great Britain has started working on laws against
offshore companies. We don’t have any law against offshore companies in our
country. If we want to give punishment to 250 offshore company owner then we
have to wait till a law passed against them. Punishment to those is very far
first we have to wait that any law will be made or not, will it be passed or
not. Let’s wait and see.