ISLAMABAD: Following a heated debate over the Supreme Court’s order directing the Central Bank to release funds directly to the Election Commission of Pakistan (ECP), the National Assembly’s Standing Committee on Finance and Revenue on Monday Decided to refer the matter to the Election Commission. The deadline to release Rs 21 billion to the Cabinet is ending today.
The Supreme Court on April 14 directed the central bank to release funds worth Rs 21 billion for elections in Punjab and to send an “appropriate communication” to the finance ministry by Monday (April 17).
The special meeting of the NA panel was called today as the deadline given to the State Bank to release funds to the electoral body expires today.
A bench headed by Chief Justice of Pakistan (CJP) Umar Atta Bandial comprising Justice Ijaz-ul-Ahsan and Justice Muneeb Akhtar held a hearing in this chamber regarding the non-implementation of the April 4 order to release the federal government last week. of And directed the central bank to release the funds.
The directions came after the election body submitted a report informing the Supreme Court that the finance ministry had failed to release the funds as per the order of the three-judge bench on April 4.
At the start of the meeting today, State Bank of Pakistan (SBP) Acting Governor Seema Kamil told the NA panel that the regulator had allocated Rs 21 billion for the ECP to conduct elections in Punjab on the directions of the Supreme Court. However, he did not. Have the authority to release funds directly.
Law Minister Senator Azam Nazir Tarar told the panel that the Finance Ministry has already said that it does not have enough funds to hold elections in Punjab on May 14.
“It is not in the interest of the country to spend twice on elections”, the law minister said, adding that the Supreme Court had directed the central bank to arrange the funds.
He said that trustees of public funds are elected representatives of the people.
It should be noted that Finance Minister Ishaq Dar was also summoned by the National Assembly body, but according to sources, he did not attend the meeting today as he was in Saudi Arabia to perform Umrah.
PML-N leader Birjis Tahir further said that if the central bank releases funds directly to the electoral body, it will be against the law.
How can the Supreme Court direct the State Bank to release funds? While questioning, Tahir further said that if separate elections are held in Punjab, then it will have an impact on the results of the general elections of the remaining three provinces later.
The Acting Governor of the Central Bank addressed the criticism of the allocation of funds, explaining to the lawmakers that the allocation of funds will keep the money in the account.
He further said that he appeared on the direction of the Supreme Court and told the apex court that the central bank can allocate the funds. However, it cannot release funds.
Meanwhile, Minister of State for Finance and Revenue Ayesha Ghos Pasha asserted that the State Bank cannot spend money without the permission of Parliament.
“Funds can be released [to the ECP] if the National Assembly gives permission,” he said, clarifying that even the finance division cannot spend without taking permission from the cabinet and the lower house.
Meanwhile, the Law Minister said that the issue will be resolved today as the Cabinet and National Assembly meetings are also scheduled.
It should be noted that after the approval of the Cabinet, the summary will also be presented in the National Assembly.
