On
Tuesday (today), the State Bank of Pakistan (SBP) and the Ministry of Finance
will submit their reports to the Supreme Court regarding the release of funds
by the government for elections in Punjab and Khyber Pakhtunkhwa.
The
Supreme Court issued an order on April 4, directing the government to provide
Rs21 billion to the Election Commission of Pakistan (ECP) for elections by
April 10 and instructed the ECP to submit a report on April 11. However, the
government referred the matter to parliament, which refused to comply with the
court order, resulting in a second deadline for releasing funds on Monday.
The
National Assembly failed to adhere to the Supreme Court's order and rejected a
summary for the supplementary grant tabled for the release of funds for the
second time yesterday.
In
response, the apex court summoned the finance secretary, SBP governor, Attorney
General for Pakistan (AGP) Mansoor Awan, and the ECP on April 14. It directed
the SBP to submit the record and details of all federal government funds under
its control. Following an in-chamber hearing, the court ordered the SBP to
release funds from the Federal Consolidated Fund (FCF) for elections by April
17.
Meeting of the
National Assembly Finance Committee
Earlier, the National Assembly's
Standing Committee on Finance conducted a meeting on Monday and forwarded the
summary, presented by federal law minister Azam Nazir Tarar, to the federal
cabinet, which in turn sent it back to the parliament.
This information was shared by the
Minister of State for Finance and Revenue, Dr. Aisha Ghaus-Pasha, after the
meeting of the Standing Committee on Finance. She clarified that neither the
State Bank of Pakistan (SBP) nor the Finance Division had the authority to
allocate funds from the Federal Consolidated Fund without approval from
parliament. She emphasized that parliamentary approval was necessary for the
allocation of funds, as per the constitution.
She
further explained that the SBP could only allocate the funds but could not
release them, and the Finance Division could only act on the orders of the federal
cabinet. It was up to the cabinet to take the matter to parliament, and if
parliament approves, the funds would be disbursed as per the decision made
today, she added.
.webp)
