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ECP asks political parties to submit audited accounts

Published Jul 26, 2012 10:09am


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The office of Election commission of Pakistan.—File Photo
The office of Election commission of Pakistan.—File Photo

ISLAMABAD: Election Commission of Pakistan (ECP) directed the political parties on Thursday to submit their statements of audited accounts by August 29, 2012.

The ECP reminded the political parties that submission of statement of audited accounts within 60 days from the close of each financial year mandatory under Article 13 of Political Parties Order 2002.

It said the statement of accounts, duly audited by Chartered Accountant, must accompany the certificate signed by the party leader stating that no funds from any source prohibited under the Political Parties Order 2002 were received by the party and that the statement contains an accurate financial position of the party.

The prescribed forms could be obtained free of cost from the ECP secretariat and provincial Election Commission offices.

The ECP said in case any political party fails to submit the duly audited accounts, it will not be eligible to obtain symbol for contesting the elections for parliament and provincial assembly.

Earlier on July 16, the ECP had summoned the annual financial statements from the parliamentarians and the members of the provincial assemblies by Sep 30, 2012.

The ECP had asked the senators, MNAs and MPAs to submit their annual financial details and also the details of their families.

The details would include lawmakers’ annual income, their source of income and the details of their debts.

The details would be made public on October 15 in the form of official gazette.


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Comments (4) Closed

Jeffmahagaonvi Jul 26, 2012 05:09pm
It is good to controll the lawmakers annual income. But it is better to start from new elected lawmakers __in the coming parliament. __Good luck Mr. Fakhruddin G. Ebrahim, a retired & not PCO judge.
Tahir IQ Jul 26, 2012 04:47pm
ECP has started the fair process in the right direction by asking audited financial statements of politicans. You will observe a tremendous change in potential candidates fromall parties. There will be many questions raised how they acquired their wealth, and many of them will have difficulty to justify their source of income. We hope that this process will isolate corrupt politician and bring highly educated intellectual and scholars deparately needed to take charge of our nation affairs. CEC has life time opportunity to give that gift to the nation and we give all power to him to do so. He has show the leadership and courage, and hopeful that he succeed in fair election.
Shafi Jul 26, 2012 04:18pm
No one is going to declare his/her total assets. They are all liars to the core.
Saad (DXB) Jul 26, 2012 07:03pm
Being a Banker who has worked in Pakistan for 4 years and having dealt with lending to companies based on the strength of their financials, I know for a fact that there are many B & C grade auditors in Pakistan, who can issue any kind of audited financials as the customer requests for an amount as low as PKR 10,000/- ECP should consult ICAP and make an approved list of top class auditors who should be the only ones allowed to audit the financials of the political parties. These may include the Pakistan representatives of Big 4 audit companies of the world like Taseer Hadi, Ferguson etc. or respectable local audit companies. Without this step, the audited financials of the political parties will be nothing more than a joke.