KARACHI: Oscar Award winner Sharmeen Obaid Chinoy has clarified position over offshore company, owned by her mother Saba Obaid.
More Pakistanis including Sharmeen Obaid Chinoy’s mother were named in the latest list of Panama Papers published in on Monday.
Towellers Limited is the Karachi-based company owned by Saba Obaid and Sharmeen Obaid Chinoy, among others. About Towellers Limited, a letter reads: “This company was a huge exporter of textiles mainly to the USA to Walmart amongst others.”
Belize Group Limited, another offshore company owned by Chinoy family, owns two properties in New York’s Trump Tower of Donald Trump and are used for rental income. Bella Holding Group Limited of Chinoy family has been used for purchasing a residential property in New York.
Clarifying the position, Sharmeen said, “I fully support ICIJ and the laudable efforts being made by it. I would, however, like to clarify that the information released today, also mentions my mother, Mrs. Saba Obaid. I say it with confidence that the off-shore companies mentioned in the Panama Papers as being owned by my mother are compliant with the applicable laws.”
She went on to say, “I would also like it to clarify that, contrary to the incorrect reporting, my name is not mentioned in the Panama leaks and I am neither the legal nor the beneficial owner of any enterprise mentioned in the Panama Papers.”