As SC deadline looms<\/p>\n
The fate of the Supreme Court\u2019s deadline to issue Rs21 billion for elections in Punjab and Khyber Pakhtunkhwa became more uncertain on Monday after National Assembly\u2019s Standing Committee on Finance and Revenue sent the poll funds issue back to the parliament.<\/p>\n
Last week, the apex court had directed the State Bank of Pakistan (SBP) to \u201callocate and release\u201d Rs21 billion by April 17 (today) for elections in two provinces from the Federal Consolidated Fund (FCF) \u201clying under its control and management\u201d. It had also instructed the central bank to send an \u201cappropriate communication\u201d to this effect to the finance ministry in this regard.<\/p>\n
Subsequently, a meeting of NA\u2019s finance and revenue committee was called today to discuss the SC order regarding the disbursement of funds. Finance Minister Ishaq Dar, SBP Governor Jameel Ahmad, Law Minister Azam Nazir Tarar, Commerce Minister Naveed Qamar, Auditor General of Pakistan Mohammad Ajmal Gondal and Attorney General for Pakistan Mansoor Awan were also invited.<\/p>\n
In a brief conversation with reporters after the NA committee meeting wrapped up today, Minister of State for Finance and Revenue Dr Aisha Ghaus Pasha said that neither the SBP nor the Finance Divison had the authority to release funds from the FCF.<\/p>\n
She explained that the process of the allocation required approval from the parliament. \u201cWithout the approval of the parliament, no bill or budget has any legal authenticity.<\/p>\n
\u201cHence, we leave the entire matter on the parliament now. The parliament is supreme for us because this is what is written in the Constitution,\u201d Pasha said.<\/p>\n
She elaborated that the SBP can only allocate the money but cannot release it until and unless a proper indication was given to them by the Finance Division.<\/p>\n
\u201cAnd then Finance Division can only act on the orders of the federal cabinet. Now, it is the federal cabinet\u2019s will to take the matter to the parliament \u2026 if the parliament says yes, we will disburse the funds today,\u201d Pasha added.<\/p>\n","protected":false},"excerpt":{"rendered":"
As SC deadline looms The fate of the Supreme Court\u2019s deadline to issue Rs21 billion for elections in Punjab and Khyber Pakhtunkhwa became more uncertain on Monday after National Assembly\u2019s Standing Committee on Finance and Revenue sent the poll funds issue back to the parliament. Last week, the apex court had directed the State Bank […]<\/p>\n","protected":false},"author":2,"featured_media":326393,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-326374","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-national"},"yoast_head":"\n