ISLAMABAD - Public Accounts Committee (PAC) in its upcoming meeting on ‘Panama Papers’ may once again fail to reach consensus to fix responsibility on any government organisation to probe legality of off-shore companies.

The upcoming meeting of PAC on Panama controversy is likely to be scheduled by this month. It is also relevant to mention here that PTI is also set to start anti-government campaign from next month (October 2).

The parliamentary accountability body (PAC), in its first meeting held last month, remained inconclusive to ascertain any concrete measure taken by main government departments to investigate the matter of off-shore companies.

Chairman PAC Syed Khursheed Shah had given a one-month period to NAB, FIA, SECP and SBP to brief the meeting once again after one month.

The heads of main government departments had almost passed the buck towards the FBR to probe the persons having off-shore companies and asked it to inform their organisations in case of any wrongdoing.

National Accountability Bureau (NAB) had simply come up with response to not probe the Panama leaks related matter.

State Bank of Pakistan (SBP) also almost exempted itself in the meeting by saying that SBP only keeps an eye over suspicious transactions.

Interestingly, the FBR had also ostensibly provided a cushion to rest of the main government departments with the excuse that the department after getting the response from persons (having off-shore companies) will refer the case to other concerned department for action.

An FBR senior official, a couple of weeks before, had shared that a large number of Panama nominees are not responding to the notices issues by the FBR asking about different information, as only 94 out of 303 people had responded so far.

Sources said the concerned department has yet not received any satisfactory response from the people having off-shore companies as they are still seeking more time to respond.

It is relevant to mention here that the FBR had found 444 cases under Panama leaks and it traced 303 addresses.

These notices were issued to 303 people since September 1, 2016 under the income tax section 176, Ordinance, 2001, asking about information regarding off-shore companies.

The sources said over 20 out of total 303 had admitted having their companies abroad and 17 out rightly denied. The sources said that PAC members belonging to different political parties may once again indulge in debate about starting the probe of off-shore companies.