ISLAMABAD: In what appears to be yet another disobedience of the Supreme Court’s orders, the Standing Committee on Finance has decided that the State Bank of Pakistan (SBP) does not have the authority to issue funds for elections, and referred the matter of issuing Rs. 21 billion for elections in Punjab and Khyber Pakhtunkhwa to the National Assembly for approval.
The decision was made during a meeting attended by Acting Governor State Bank, Attorney General, federal Law Minister Senator Azam Nazir Tarar, Trade Minister Syed Naveed Qamar, and Auditor General Muhammad Ajmal Gondal.
It may be recalled that the Supreme Court on Friday had ordered the State Bank of Pakistan (SBP) to release Rs21 billion to the Election Commission of Pakistan (ECP) for holding elections in Punjab and Khyber Pakhtunkhwa and send an “appropriate communication” to this effect to the finance ministry by April 17 (today).
The committee took up the matter of reviewing the orders of the Supreme Court (SC) to the State Bank of Pakistan (SBP) to release funds for elections in Punjab. During the course of the meeting, the law minister and attorney general unanimously proposed that the finance ministry should put the demand of Rs. 21 billion before the cabinet, which should forward the same to the National Assembly.
Acting Governor State Bank informed the committee that as per the SC orders, Rs. 21 billion have been allocated, however, the amount belongs to the government of Pakistan. The committee was of the view that the State Bank had no authority whatsoever to spend the money without getting approval from the government.
The decision of the Standing Committee on Finance means that the State Bank cannot issue funds for elections without the approval of the National Assembly. This move may have significant implications for future elections in Pakistan, as it could change the way funds are allocated and disbursed.
