News
Pandora papers: 4 more countries begin probes into alleged offshore secret wealth of elites
By Sanath Nanayakkare
The Pandora Papers had triggered a flurry of dramatic fallout around the world as current and former leaders in Chile, the Czech Republic, Ecuador, and Ukraine are facing official scrutiny over illegal financial dealings revealed by the Pandora Papers, International Consortium of Investigative Journalists (ICIJ) said yesterday.
“In addition, the list of officials from different countries pledging tax probes of those named in the files is growing”, ICIJ said.
“Further to these developments, we are also beginning to see plans for proposed reforms in the U.S. and the EU for shaking off their reputation for playing a central role in how rich people around the world seek to hide and accentuate wealth in their countries,” they noted.
“Our reporting has also had some early impact in the rarified world of precious artifacts: The Denver Art Museum is preparing to return four antiquities to Cambodia following our investigation with the Washington Post and other media partners on an indicted art dealer’s offshore links,” they added.
The government of India said on Oct. 04 that it would investigate cases related to Pandora papers. The official spokesperson of Central Board of Direct Taxes (CBDT) of India said that the probe would be monitored by a team headed by the chairman of CBDT. Other representatives of the multi-agency group include the Enforcement Directorate, Reserve Bank of India, Financial Intelligence Unit and CBDT.
According to Pakistani media reports, more than 700 people in the country were named in the papers, among them two members of the cabinet.
Pakistan Prime Minister Imran Khan addressing a high-level dialogue on ‘Financing for Development’ held on the sidelines of the 74th session of the UN General Assembly said that movement of ‘ill-gotten’ money was devastating the developing countries across the world.
“We have been trying our best to retrieve that money”, he said, conceding that even when his government located properties made from illegal money by Pakistanis abroad, it faced a number of legal lacuna and difficulties in trying to bring that money back.
He called upon developed countries to do better as far as the return of illicit wealth was concerned, saying “there is a lack of political will in the rich countries because they gain from it”.
Sri Lanka’s Thirukumar Nadesan and his wife Nirupama Rajapaksa were named in the Pandora papers
According to Pandora papers, the British-educated Nadesan – businessman and trustee of several Sri Lankan Hindu charities and temples had established shell companies and trusts in offshore jurisdictions.
Soon after the exposé, Thirukumar Nadesan had written to President Gotabaya Rajapaksa declaring his innocence and requesting an impartial investigation.
Cabinet spokesman Dullas Alahapperuma said on 06 Oct. that the President had asked Commission to Investigate Allegations of Bribery or Corruption to conduct an investigation and issue a report on the assets of Nirupama Rajapaksa and her husband Thirukumar Nadesan within one month.
The Frontline Socialist Party (FSP) has urged the NPP government to prevent Japan’s Onomichi Dockyard Company from selling its 51% ownership stake in the Colombo Dockyard Limited (CDL) to Indian government-owned Mazagon Dock Shipbuilders Limited, Mumbai, a leading shipbuilder.
FSP spokesman Pubudu Jayagoda told The Island yesterday (27) that the move seemed to be in line with the overall India-Sri Lanka understanding on the basis of the recently signed memorandum on defence cooperation.
Against the backdrop of deteriorating financial situation, the Japanese company has informed the board of directors of CDL of its plans to divest its 51 percent ownership stake in the international shipbuilding and repair company. The Japanese shipbuilder made the announcement in early Dec last year.
Alleging that an agreement has been reached on the sale of Onomichi’s controlling ownership stake to the Indian ship builder, Jayagoda questioned
the move as Mazagon primarily built a range of warships and attack submarines. Jayagoda pointed out that according to Mazagon’s profile, the Indian government-owned business undertaking was involved with European companies engaged in ship and submarine construction.
Addressing a Local Government election meeting at Weeraketiya, Pallekanda, in support of those contesting the May 6 election on the ticket of Jana Aragala Sandhanaya (JAS), the executive committee member of JAS Jayagoda emphasized that in terms of the agreement between Sri Lanka and Japan, Onomichi couldn’t sell its stake without the Sri Lankan government’s approval. Therefore, the NPP government should intervene to halt the Japanese-Indian move, the FSP spokesman said while urging the parliamentary opposition to publicly oppose the planned sale of the Japanese stake.
Among other stakeholders are Sri Lanka Insurance, Sri Lanka Ports Authority and EPF.
By Shamindra Ferdinando
Former SJB MP Lakshman Kiriella has said the JVP/NPP government totally mishandled the Siri Dalada Vandana relic exposition and now Kandy is reeking of waste.
Kiriella said the government’s lack of planning and experience in organising large-scale national events had led to serious public health concerns in both the city and its suburbs.
“They invited the public to Kandy even without ensuring that at least adequate sanitary facilities would be available. Now, the streets are strewn with heaps of garbage, human waste, polythene bags, and even bottles of urine. People are increasingly worried that this could trigger a disease outbreak.
“The government failed in every aspect of planning. It should have learnt from how former Presidents Ranasinghe Premadasa and Mahinda Rajapaksa handled similar expositions,” Kiriella said. “Those leaders began preparations three months ahead of the events.
They held at least 15 planning meetings, inviting MPs from both the government and Opposition to ensure proper coordination.”
Kiriella said that under past administrations, more than 10 ministries worked in unison to provide infrastructure and support for the event. “The Health Ministry ensured a steady water supply, the Housing Ministry provided tents and huts, and the Ministry of Tourism handled food and refreshments,” he recalled.
“The current government did none of this. What should have been a spiritual and well-organised national event was turned into a nightmare,” Kiriella said.
Chairman of the Parliamentary watchdog committee COPE (Committee on Public Enterprises), Dr. Nishantha Samaraweera, says the COPE has decided to submit its reports progressively immediately after the conclusion of each probe. Previously, reports were submitted only after the conclusion of investigations into several institutions. That decision had been made due to the slow implementation of
the COPE Committee recommendations regarding irregularities and corruption revealed during investigations.The report of the investigation into the Medicines Regulatory Authority has been tabled in Parliament, and a debate is scheduled soon.Dr Samaraweera said that recommendations based on the investigation would be forwarded to the Attorney General to take legal action against those involved in corruption and fraud.He added that the COPE would also submit extracts of the reports to the CID.
Heavy showers about 100 mm are likely at some places in Central, Sabaragamuwa, Uva, Eastern and North-central provinces and in Vavuniya, Mullaittivu and Kurunegala districts.
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