The National Assembly standing committee on Finance has decided to forward the matter of releasing Rs21 billion funds for Punjab elections to the NA.
On April 14, a three-member bench the case of elections delay in Punjab and KP ordered the SBP to directly issue Rs21 billion for the election and submit its report on April 18.
This was decided in a meeting of the standing committed chaired by its chairman Qaiser Ahmed Sheikh. Law Minister Senator Azam Nazir Tarar, Attorney General Mansoor Usman Awan, deputy governor SBP Seema Kamil, Auditor General Muhammad Ajmal Gondal, Trade and Commerce Minister Syed Naveed Qamar and others attended the meeting.
Briefing the committee members, Law Minister Azam Nazir Tarar said the Supreme Court has ordered to provide funds for Punjab elections, but there were no funds kept for the elections this year in the Federal Consolidated Fund.
For the release of funds as a supplementary grant, the National Assembly’s (NA) nod is essential, he added.
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The deputy governor SBP Seema Kamil said they have allocated Rs21 billion for the Punjab elections as per the Supreme Court’s ruling, but the central bank does not has the authority to release the funds directly.
The NA standing committee after the briefing decided to take the matter to the Parliament after approval from the federal cabinet.