Islamabad: The Election Commission of Pakistan (ECP) on Tuesday ordered all registered political parties to submit details of their assets before August 29, 2022.
According to the order issued by the ECP, all political parties have to submit the details of their assets for the year 2021-22. The parties have to declare their annual income as well as sources of income, the ECP said.
The parties will have to disclose the economic structure of the party, the order said. All political parties will have to prove that they have not indulged in taking any prohibited funding.
The ECP said that under Section 210 of the Elections Act, 2017 read with Section 204 of the act and rules 159 and 160 of the Election Rules, 2017, every political party was bound to submit to the Election Commission within 60 days from the close of each financial year a consolidated statement of accounts of the party, duly audited by a chartered accountant.
Section 210 provides that a political party shall, in such a manner as may be prescribed, submit to the Commission, within 60 days from the close of a financial year, a consolidated statement of its accounts audited by a chartered accountant on Form-D containing: (i) annual income and expenses; (ii) sources of its funds; and (iii) assets and liabilities.
The statement to be submitted to the ECP shall accompany the report of a chartered accountant with regard to the audit of accounts of a political party and a certificate signed by an office-bearer authorised by the party head stating that: (i) no funds from any source prohibited under the Elections Act, 2017, were received by the political party; and (ii) The statement contains an accurate financial position of the political party.
The statement of accounts is to be submitted on Form-D as prescribed under the rules. Printed forms are available free of cost at the Election Commission Secretariat, Islamabad, and in the offices of the provincial election commissioners, Punjab, Sindh, Khyber Pakhtunkhwa and Balochistan.
The membership/certificate issued by the Institute of Chartered Accountants of Pakistan (ICAP) in respect of the auditor engaged shall be annexed to the Form-D along with the last valid renewal certificate.
