SBP allocates Rs 21 billion for elections in Punjab and KP
ISLAMABAD: The State Bank of Pakistan has allocated Rs 21 billion for elections in Punjab as per the order of the Supreme Court of Pakistan.
At present, about Rs 1.3 trillion are available in the federal government’s account No. 1. The central bank has allocated Rs 21 billion from this account.
The State Bank of Pakistan will inform the Finance Ministry on Monday about the allocation of money for elections in Punjab, Business Recorder reported it today citing sources.
On Friday, the apex court ordered the central bank to provide Rs21 billion to the Election Commission of Pakistan (ECP) for in Punjab. The Supreme Court took the decision after the federal government refused to release funds for elections.
A three-member SC bench comprised of Chief Justice of Pakistan (CJP) Umar Ata Bandial, Justice Ijaz Ul Ahsan, and Justice Munib Akhtar had issued the orders.
Earlier, the SC directed the Federal Government to release funds to Election Commission for election in Punjab.
The apex court ordered this on Friday during in-chamber hearing of the case pertaining to non-provision of funds to ECP for holding elections in Punjab.
Senior officials of the Finance Division and State Bank of Pakistan appeared in the in-chamber hearing.
On Thursday, the Supreme Court declared ineffective the proposed Supreme Court (Practice and Procedure) Bill 2023 before its implementation.
An 8-member larger bench of the apex court took up for hearing petitions about the Bill clipping powers of the chief justice.
Meanwhile, the coalition parties in the government rejected the 8-member larger bench of the Supreme Court to hear the Supreme Court (Practice and Procedure) Bill 2023.
Also, the National Assembly passed a resolution and amended laws to declare order of the apex court ineffective about the Supreme Court (Practice and Procedure) Bill 2023.
The PDM parties have termed the larger bench controversial that would tarnish the image of the apex court. The coalition parties in the government held an urgent meeting on Thursday and unanimously rejected the SC’s bench.
The parties in the coalition government further said the honorable judges have themselves objected to the ‘one-man show’, the biased and dictatorial behavior and formation of special benches.
The formation of the controversial eight-member bench is further proof of the facts stated in these judgments.
On Wednesday, the Chief Justice of Pakistan formed an 8-member larger bench of the Supreme Court to hear the petitions against Supreme Court (Practice and Procedure) Bill 2023. The bench has declared the Bill ineffective.
