ISLAMABAD, Jan 11: With the Election Commission preparing itself to meet the possible challenge of holding early elections, its technical committee on political finance met here on Wednesday to explore innovative ideas to make the so far cosmetic exercise of submission of statements of assets and liabilities by lawmakers meaningful and ensure that poll expenses remain within the prescribed limits.
The meeting held with the commission’s Secretary Ishtiak Ahmad Khan in the chair was informed that creation of posts for the political finance wing had been approved by a committee headed by Chief Election Commissioner Justice (retd) Hamid Ali Mirza and comprising representatives of the finance and establishment divisions.
According to sources, the wing to be headed by a financial expert will have powers to investigate information received about any assets not disclosed in the statements submitted by lawmakers.
A false declaration would make a legislator liable to up to three years of imprisonment and disqualification for five years under the Representation of People Act.
The commission decided to reverse its decision of placing the statements of assets and liabilities of lawmakers on its website.
It was felt that it would be appropriate only if information about assets of all people drawing salary from the public exchequerwas also placed on websites.Modalities would be worked out by the Federal Board of Revenue (FBR) and the EC to monitor expenses during the election campaign, based on best experiences of other countries.
The meeting noted blatant violations of restrictions on the size of banners and hoardings laid down in the code of conduct.
A source said election committees comprising district coordination officers, police chiefs, district returning officers andElection Commission’s representatives would be formed to check hoardings and banners beyond the prescribed size. The committees will ask police to take action against those violating the rule. Fines will be imposed on violators and the material will be confiscated.
It was pointed out that the format of the form used to obtain assets’ declaration needed to be modified, making it mandatory for lawmakers to disclose details of assets and sources of acquisition -- whether inherited, gifted or purchased.
Currently, the value of the assets is determined subjectively without any specific formula. In case of inherited or gifted property there is no need to declare the value and in case of purchase of an asset only the initial cost of acquisition needs to be given.
It was pointed out that appreciation in the value of an asset over a period of time after its acquisition should not be a cause of concern because any addition in value is neither taxable nor an offence.
It was observed that the FBR could verify assets only if the EC asked it to do so.