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PPP-P turns out to be poorest party, PML-N wealthiest

March 29, 2013

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—File Photo.

ISLAMABAD: With no income and no fixed assets, the Pakistan Peoples Party-Parliamentarians (PPP-P) is by far the poorest political party in the country, according to the financial statement submitted by it to the Election Commission of Pakistan (ECP).

The details of financial standing and statement of assets of political parties released by the ECP on Thursday for the fiscal year ending on June 30, 2012, shows that the PPP-P has only Rs435,397, which includes Rs5,997 cash held by its finance secretary and Rs429,400 in its bank account.

The statement of accounts submitted by the party’s secretary general and former prime minister Raja Pervez Ashraf says the party spent nothing, except Rs348 during the whole fiscal year ending on June 30, 2011.

The address of the party’s central secretariat has been changed to F-6/1 from G-6/4 because the G-6/4 office is undergoing renovation.  In contrast, the PML-N is the wealthiest party in terms of assets.

According to the statement submitted to the ECP, the party has assets spread across the country valued at Rs80.3 million and its closing balance for the fiscal year 2011-12 was Rs53.19m.

The PML-N started the year with a balance of Rs6.4m and the inflows of its four provincial offices and central secretariat was Rs77m.

The total nationwide expenditure of PML-N during the year was Rs30.3m, and major expenses included Rs3.5m on catering services and Rs4m on printing and advertising.

The PML House on the Margalla road in Islamabad is shown in the list of PML-N’s assets, although the building is in possession of PML-Q which has also listed the building in the list of its assets.

The PML-Q established its office in the building before the 2002 elections when the Sharif brothers were living in exile in Saudi Arabia.

A PML-Q statement, submitted by its secretary general Senator Mushahid Hussain, says the opening balance of the party was Rs72,270 and its total inflow in the year 2011-12 was Rs12.52m, whereas expenditures amounted to Rs12.4m, leaving the closing balance of Rs154,732. The main expenditures included security arrangements worth Rs1.08m and entertainment amounting to Rs561,099.

Net assets of the party are worth Rs51.47m, including the party offices in Islamabad (Rs23.61m), Lahore (Rs24.28m) and the PML House in KDA scheme-1, Karachi (Rs1.2m).

The Pakistan Tehreek-i-Insaaf (PTI) also is a rich party with massive circulation of money during the year. The party gained Rs2.13m from the dollar-rupee parity during the year.

The opening balance of the party was Rs4.17m and it ended the year at Rs37.82m on June 30, 2012. The party had incomes of Rs179.25m in 2011-12 and expenditures amounted to Rs145.60m. It has assets worth Rs50.07m.

Another party with a huge annual turnover is MQM with inflows amounting to Rs316.08m. Expenditures of party in 2011-12 were Rs316.39m.

The MQM had Rs4.08m in its account at the start of 2012 which declined to Rs3.7m at the end. The assets owned by MQM are worth Rs19.78m.

Jamaat-i-Islami has net assets worth Rs1.85m, with a closing balance of Rs755,052. The JUI-F has net assets of Rs1.14m. The ANP has total assets of Rs58,369 and its yearly expenditure was Rs15,637.