Money Bill 2023 tabled in NA to discuss fund allocation for Punjab, KP polls

Islamabad: Minister for Finance and Revenue, Senator Muhammad Ishaq Dar on Monday tabled the Money Bill 2023 before the National Assembly (NA) to decide and discuss funds allocation for the provincial assemblies of Punjab and Khyber Pakhtunkhwa (KP) elections.

The minister tabled the Bill titled “Charge Sum for General Election Provincial Assemblies of Punjab and Khyber Pakhtunkhwa Bill 2023” in the light of the federal cabinet decision during the 51st session of the National Assembly.

Setting the context for the Bill, Senator Ishaq said this House passed a resolution in the light of the multiple verdicts of the Supreme Court to assert that the Supreme Court decision of majority decision was 4-3, which has negated the suo moto notice.

However, he said: “The house also emphasized upon the government not to implement the 3-0 decision of the Apex Court which was a minority verdict and should not be implemented in its resolution”.

The finance minister underlined that the federal cabinet, in its recent meeting in the light of the resolution of this house, deliberated upon the Supreme Court decision and decided that the Apex Court decision to allocate funds for provincial assemblies’ elections of KP and Punjab should be tabled before this house, which should decide the matter.

He added that the Supreme Court in its decision had directed the federal government to provide Rs21 billion to the Election Commission of Pakistan (ECP) to hold provincial elections. “These elections would be held without general elections of the National Assembly, Sindh and Balochistan assemblies,” he said.

“The Money Bill 2023 was tabled in the light of the federal government’s decision as per article 81-E of the Constitution,” the minister added.

He vowed that the coalition government was determined under the leadership of Prime Minister Shehbaz Sharif to purge the country from the menace of terrorism and pull out the country of its economic, political and constitutional crises so that prosperity and development would be the fate of the nation as usual.

The Speaker announced that the Bill was automatically referred to the committee.

Ishaq Dar, in the preamble of his speech, mentioned that from July 2022 to till date Pakistan has repaid 12 billion dollars in foreign debt. “We are paying each foreign payment in time,” he said.

He said that Pakistan had 9.6 billion foreign exchange reserves at present. “Pakistan reserves stand at a total of $9.60 billion — $4.10 billion available with the State Bank of Pakistan and $5.50 billion of commercial banks,” he added.

The minister stated that a strategy had been devised by the government to take the country’s foreign exchange reserves to $13 billion by June 30.

He further said that the government, under the leadership of PM Shehbaz Sharif, had also improved its relations with friendly countries and international partners.

The minister continued: “The government had also taken measures to stop the illegal flight of capital from the country which were showing encouraging signs”.

He further stated the prime minister had recently announced austerity measures which would be adopted to control the country’s expenditures.

Moreover, Dar added that the government had designed a policy to end the un-targeted subsidy and provide targeted subsidy to deserving low-income people. He said that funds for the Benazir Income Support Program (BISP) had also increased from Rs360 billion to Rs400 billion.

“The government believed in the supremacy of the Parliament and upholding the constitution and law of the land,” said minister, regretting that Pakistan Tehreek-e-Insaf (PTI) under a planned conspiracy tried to create constitutional and legal crises in the country.