Profile

Shahbaz Yasin Malik is the President and CEO of Hilton Pharma, a large pharmaceutical company in Karachi, Pakistan, which he runs with his brothers. His father Sardar, was appointed to a ministerial role in a caretaker cabinet in 2013. Prime Minister Imran Khan praised Shahbaz Malik and his other family members for their contributions to Pakistan as taxpayers. However, the Panama Papers show that shares in the Malik family's BVI-registered shell company, Bladehurst Inc, were issued “to bearer”, making it difficult for tax authorities to determine its ownership. The company holds a Swiss bank account.

“Are you a Politically Exposed Person?”

In April 2015, Shahbaz Malik applied to buy Maltese passports for himself, his wife, and their two adult children, as did one of his brothers. On his application form, Shahbaz Malik replied “no” to the question “Are you a Politically Exposed Person?” and disclosed his appointment as a director on the board of Pakistan Petroleum Ltd, a state-owned multinational. During the processing of his application Malik was identified as a PEP due to the directorship. His application handler argued that the appointment was a result of his expertise in the field and that he received no remuneration for his role on the board. Mr Malik has claimed that his role on the board was non-executive.

Non-present resident

To fulfil the residency requirements of his application, Mr Malik leased a St Julian's apartment for €16,800 per year, the minimum rental fee required by the passports programme. Itineraries kept on file by Henley & Partners indicate that he only spent four days in Malta in 2014 and one day in 2015. In a comment, Mr Malik did not deny spending only four days in the country. He claimed that he could not spend more days in Malta due to his work but that he intends retiring in Malta

Dual citizenship, due care and diligence

Under Pakistani law, nationals may only hold dual citizenship with a restricted list of countries, which does not include Malta. Asked to comment, Mr Malik said that his Maltese citizenship was acquired in compliance with both domestic and international law and that “due care and diligence have been given to ensuring that all actions I have taken in acquiring Maltese citizenship were above-board and transparent. I am proud to say that I am a law-abiding citizen of Pakistan and, in a county notorious for tax-evasion, am one of its largest taxpayers.” Shahbaz Yasin Malik's application to buy Maltese passports for himself and his family was ultimately approved in November 2015. The family's passports were issued early the following year.

National Accountability Bureau

In January 2019, a news report from Pakistan said that the Executive Board of the National Accountability Bureau of Pakistan approved the opening of inquiries into 20 individuals, including Shahbaz Malik and two of his siblings, as part of a larger investigation into appointments during the tenure of former Prime Minister Shahid Khaqan Abassi as Minister for Petroleum and Natural Resources in the cabinet of Nawaz Sharif.

We were unable to confirm the information directly with the National Accountability Board. Mr Malik said he is unaware of any investigation in his regard. Pakistan Petroleum Ltd could not be reached for comment.