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Pakistan's Prime Minister Nawaz Sharif Image Credit: Reuters

Islamabad: The final report by the Panamagate Joint Investigation Team (JIT), indicating corruption charges against Pakistan’s Prime Minister Nawaz Sharif and his children and “significant” disparities in their income and actual wealth were true, has ignited a political firestorm.

During the 62-day investigation, the six-member JIT discovered three more offshore companies owned by Sharifs other than the three they were investigating. The JIT report submitted to the Supreme Court on Panama scandal has proved to be the last nail in the coffin, triggering a huge political setback in Pakistan’s political history.

Will the Prime Minster resign? This is the ultimate question on every Pakistani’s mind. The choices are few, either the Prime Minster steps down now and faces charges or wait for the decision of the Supreme Court. The ruling party PML-N, however, says they would fight the legal battle.

“Whatever the law may permit, Prime Minister Nawaz Sharif must do the right thing by democracy and step aside, at least temporarily”, read the editorial of Pakistan newspaper Dawn. This statement resonates with most analysts and legal experts.

“For a sitting prime minister, there could not have been a more damning indictment” as JIT has charged the Sharif family on several counts “from perjury and faking documents to hiding their sources of wealth and living beyond their means” says Zahid Hussain, a known author and journalist in Pakistan.

“The JIT report is alarming for the government. The report indicates the PM as the owner of an offshore company, whereas his ministers have persistently denied this allegation” remarked legal expert, Justice (R) Rasheed A. Rizvi. “PM Sharif has lost all moral and legal grounds to retain the premiership” he added.

Barrister Ali Zafar says the PM should present himself for accountability before the Supreme Court after the revelation by JIT. “There is no other option for the government but pursue a legal battle. The Supreme Court has not accepted the JIT report yet, so PML-N can challenge the report.”

However, he says the chances for exemption are slim for the Sharif family.

A major setback for Sharif family was that JIT report has also accused his daughter Maryam Nawaz of forging documents. As Maryam has long been groomed as Sharif’s heir, this disclosure could possibly spell doom for the dream of transition of power to the second generation.

There are also speculations in the Pakistani media about PM’s successor and the focus is currently on Shahbaz Sharif, PM Sharif’s brother and current Punjab Chief Minister.

“The JIT findings, if found true and implemented too, will be a perfect recipe to the formula of Pakistani politics minus Nawaz Sharif and also excluding his daughter Maryam Nawaz from politics. It would thus pave the way for Shahbaz Sharif and his son Hamza Shahbaz to lead the N-League” according to Ansar Abbasi, a political commentator.

Meanwhile, the Lahore High Court Bar Association has announced to launch countrywide protests if Prime Minister Nawaz Sharif does not step down within a week saying the premier has no moral ground to stay in office after revelations in the JIT report.