ISLAMABAD: The National Assembly’s Standing Committee on Finance and Revenue on Monday returned the debate over the election funding to the parliament as the Supreme Court’s deadline to release Rs21 billion for elections in Punjab and Khyber-Pakhtunkhwa becomes more uncertain.
Last week, the apex court had asked the State Bank of Pakistan (SBP) to issue Rs21 billion by today (April 17) for elections in Punjab and K-P from the Federal Consolidated Fund (FCF) “lying under its management and control”.
The NA finance and revenue committee meeting was called on Monday to discuss the SC judgment regarding the cash disbursement.
Finance Minister Ishaq Dar, Law Minister Azam Nazir Tarar, SBP Governor Jameel Ahmad, Attorney General for Pakistan Mansoor Awan, Auditor General of Pakistan Mohammad Ajmal Gondal, and Commerce Minister Naveed Qamar were also invited.
Dr Aisha Ghaus Pasha, the minister of state for finance and revenue, told reporters in a short conversation following the committee meeting that neither the SBP nor the Finance Division can release funds from the FCF.
She explained that the procedure of allocating funds needs the parliament’s approval.
“Without the parliament’s approval, no budget or bill has legal credibility. Hence, now we leave this matter on the parliament as it is supreme for us because this is written in the Constitution,” Pasha said.
She explained that the SBP could only allocate the fund and release it once unless the Finance Division gave a proper indication.
“Finance Division can only act as per the orders of the federal cabinet. Now, it is the will of the federal cabinet to take the matter to the parliament; if the parliament says yes, we will disburse the funds today,” Pasha added.
