September, 22, 2023
Ministry of Finance

Ministry of Finance

The State Bank should immediately transfer the money to the Election Commission’s account, the funds should be used for the election process, and the bank should contact the Ministry of Finance to release the funds.

Govt to approve funds from Assembly, Ministry of Finance, and State Bank to give implementation report on April 18: Supreme Court, Funds are helpless on the release: Federal Govt.

ISLAMABAD (Special Reporter, Monitoring Desk) Regarding the release of funds for the elections in Punjab, the Supreme Court issued a written order and ordered the State Bank to release funds worth 21 billion rupees by Monday. Chief Justice Umar Atta Bandial, Justice Muneeb Akhtar, and Justice Ijazul Ahsan conducted the in-chamber hearing which lasted for one hour and 20 minutes, during which the Attorney General and other officials appeared. According to the details, the Supreme Court ordered the Acting Governor State Bank to release funds directly to the Election Commission for the elections in Punjab. Provision of funds for Punjab and KP elections Supreme Court has issued a written order for an in-chamber hearing, The Supreme Court said in the order that the State Bank will immediately transfer 21 billion rupees to the Election Commission’s account. The Election Commission should use the funds for the election process as soon as they are transferred. In the nine-page decree, it has been said that according to the State Bank, 21 billion rupees will be provided by Monday, April 17. According to the State Bank, there are more than one trillion and forty billion funds in various accounts of the government. State Bank will release 21 billion rupees from the Federal Consolidated Fund for Punjab and KP elections, State Bank will immediately contact the Ministry of Finance for the release of funds. will issue issuing instructions, Upon receiving the funds, the Ministry of Finance will immediately confirm the transfer of money from the Election Commission. The process of providing money to the Election Commission should be completed by Monday, April 17. To be available for expenditure, the State Bank and the Ministry of Finance should submit a report on April 18 following the order of the Supreme Court. Submit the report to the court after receiving funds of 21 billion rupees. The State Bank and the Ministry of Finance should submit an implementation report on the order to provide funds by April 18. The confirmation report of the Accountant General of the Ministry of Finance and the report of the Election Commission on the receipt of funds of 21 billion rupees on April 18 should also be submitted to the court. The Supreme Court has further said in the written order that according to the Ministry of Finance, the federal government has full authority to transfer money from the federal consolidated funds, however, the court does not think that the government can constitutionally block the release of funds of 21 billion rupees. It’s difficult. The court’s order is sufficient for the federal government to seek immediate approval from Parliament for the release of funds. The Federal Government should seek approval from the Parliament under Article 84 for the release of Federal Consolidated Funds. The State Bank will contact the Ministry of Finance to release 21 billion from the Federal Consolidated Funds for the elections. State Bank, Ministry of Finance, Accountant General, and Election Commission should work together to ensure the implementation of the court order. The Supreme Court order said that all authorities appreciate judicial assistance.

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