ISLAMABAD, July 5: The Election Commission of Pakistan (ECP) has asked political parties to submit statements of accounts by August 29. Chief Election Commissioner Justice (retd) Qazi Muhammad Farooq reminded the political parties that they needed to submit statements of accounts for financial year 2006-07 before August 29 under the terms of Article 13 of the Political Parties Order, 2002.

The article makes it necessary for political parties to submit consolidated statements of accounts to the ECP which should be duly audited by a chartered accountant within sixty days from the close of each financial year.

The statement should include annual income and expenses, sources of its funds, and assets and liabilities.

The statement of accounts of a party is required with a certificate signed by the party head. The certificate should state that no funds from any source prohibited under the Political Parties Order, 2002 were received by the party and the statement contains party’s accurate financial position.