Pakistan's embattled Prime Minister Nawaz Sharif today pledged to resign if proved guilty of graft or misappropriation in a high-level probe in the wake of the 'Panama Paper' leaks in which three of his children are said to have offshore companies.

"I challenge all those who allege tax fraud to come forward and present evidence. If charges are proved against me, I will resign immediately," vowed Sharif in an address to the nation.

This was his second such speech this month, since three of his four children - two sons and one daughter - were said to have offshore companies as mentioned in a massive leak of 11.5 million tax documents. The so-called 'Panama Papers' made public earlier this month claimed to have exposed the secret offshore dealings of around 140 political figures globally.

Yesterday, the Pakistani Election Commission released Sharif’s asset’s for 2015, showing him as one of the richest politicians in Pakistan. Mr Sharif has personal assets of Rs 2 billion (over €170 million), an increase of over a billion in just four years.
Sharif's opponents are using the opportunity to put pressure on the 66-year-old premier to come clean on his family businesses abroad.

He accepted popular demand to set up a probe commission under the leadership of the Chief Justice of Supreme Court and said he will "write a letter to the Chief Justice to set up a commission so that it should investigate the allegations".

Sharif said he would accept the decision of the probe and added: "I will resign if found guilty."

He said if he was cleared of the charges then those issuing allegations should seek public apology.

"The commission has not yet been established, but people have already passed judgments," said the premier.

Earlier in his first address, he had announced to set up a probe under the leadership of a retired judge of the Supreme Court, which was rejected by opposition parties.

The Pakistani PM had earlier bowed to opposition demands that he ask the chief justice to set up an independent commission to investigate offshore accounts linked to his family.

Sharif's sons are among several politicians, business leaders and other celebrities referenced in millions of leaked documents from the law firm, Mossack Fonseca & Co., which detail how the wealthy avoid tax obligations.

Sharif had earlier said the investigation would be led by a retired judge, drawing fire from opposition politician Imran Khan and others, who demanded a commission established by the chief justice of the Supreme Court.

He has denied any wrongdoing during his 30-year political career, saying the fact that he is serving a third term proves the nation has confidence in his "clean and transparent politics."