The State Bank of Pakistan (SBP) has allocated Rs21 billion for the Election Commission of Pakistan (ECP) to conduct elections in Punjab.
The allocation came after the Supreme Court directed the central bank to release the funds and send an “appropriate communication” to the finance ministry. However, SBP Acting Governor Sima Kamil informed the National Assembly’s Standing Committee on Finance that the regulator does not have the authority to release the funds directly to the ECP.
The Supreme Court had given its directive in response to a report submitted by the ECP, which stated that the Ministry of Finance had failed to release the funds as instructed by the court’s order on April 4.
The law minister, Senator Azam Nazir Tarar, informed the panel that the Ministry of Finance had already mentioned that it does not have sufficient funds to hold elections in Punjab on May 14. He argued that spending twice on elections is not in the country’s interest and that the apex court had directed the central bank to manage the funds.
Read: SC Directs SBP to Release Funds for Punjab Elections
Finance Minister Ishaq Dar was also summoned but could not attend as he was in Saudi Arabia for Umrah. PML-N leader Barjees Tahir argued that if the SBP releases funds directly to the ECP, it would be against the law. Tahir questioned the Supreme Court’s directive and expressed concern that holding separate elections in Punjab could affect the results of the general elections in the other three provinces.
In summary, while the SBP has allocated the necessary funds for the ECP to conduct elections in Punjab, it does not have the authority to release the funds directly. The finance ministry lacks sufficient funds, and there is debate surrounding the legality of the SBP releasing funds directly to the ECP. The situation raises concerns about the impact of separate elections in Punjab on the general elections in other provinces.
