[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]The National Assembly (NA) Standing Committee on Finance and Revenue referred the issue of funds for Punjab and Khyber-Pakhtunkhwa elections back to Parliament on Monday.
Dr. Aisha Ghaus Pasha, Minister of State for Finance and Revenue, told reporters after the meeting that the State Bank of Pakistan (SBP) and the Finance Divison lacked the authority to release funds from the Federal Consolidated Fund (FCF).
The news comes after SBP sources told Business Recorder on Sunday that, in response to the Supreme Court’s order, the SBP decided to hold the required amount from the government’s treasury to ensure the availability of funds for the May 14 elections in the two provinces.
The Supreme Court’s deadline for releasing Rs21 billion for the elections expires today, prompting a special meeting of the NA Committee.
According to Dr. Pasha, prior to allocating funds, Parliament must approve them.
“Without the approval of Parliament, no bill or budget has any legal authenticity,” she stated emphatically. “As a result, we now refer the entire matter to Parliament.” The Parliament is supreme for us because the Constitution states so.”
She clarified that the SBP could allocate the funds but it cannot release them before Parliament’s approval.
“And then the Finance Division can only act on the orders of the federal cabinet. Now, it is the federal cabinet’s will to take the matter to Parliament … if Parliament says yes, we will disburse the funds today,” Pasha added.
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Meanwhile during today’s NA Committee meeting, SBP Acting Governor Sima Kamil said the central bank has allocated Rs21 billion for the ECP to conduct polls in Punjab on the directives of the Supreme Court, but does not have the authority to release funds directly.
Law Minister Senator Azam Nazeer Tarar, meanwhile, informed the panel that the Ministry of Finance had already said it does not have sufficient funds to hold elections in Punjab on May 14.
“Spending twice on elections is not in the country’s interest”, the law minister said, adding that the apex court had directed the central bank to manage the funds.
He maintained that the trustees of government funds are elected representatives of the people.
Background:
The Supreme Court’s deadline for releasing Rs21 billion for the elections expires today, prompting a special meeting of the NA Committee.
According to Dr. Pasha, prior to allocating funds, Parliament must approve them.
“Without the approval of Parliament, no bill or budget has any legal authenticity,” she stated emphatically. “As a result, we now refer the entire matter to Parliament.” The Parliament is supreme for us because the Constitution states so.”[/vc_column_text][/vc_column][/vc_row]
