The ECP requires political parties to submit details of assets

By | July 12, 2022

ISLAMABAD: The Election Commission of Pakistan (ECP) has asked all political parties to file here details of their assets for the financial year 2021-22 on or before August 29.

The ECP stated that under Section 210 of the Elections Act, 2017 read in conjunction with Section 204 of the law and rules 159 and 160 of the Election Rules, 2017, each political party is obliged to submit to the Election Commission within 60 days from at the end of each financial year a consolidated statement of the party’s accounts, which shall be duly reviewed by a chartered accountant.

Section 210 stipulates that a political party must, in such manner as may be prescribed, submit to the Commission, within 60 days from the close of a fiscal year, a consolidated statement of its accounts audited by a chartered accountant on Form-D containing: (i) annual income and expenses; (ii) its source of funds; and (iii) assets and liabilities.

The statement to be submitted to the ECP must be accompanied by a report by a chartered accountant regarding the audit of the accounts of a political party and a certificate signed by an incumbent authorized by the leader of the party stating that: ( i) no funds from any source prohibited under the Elections Act, 2017, have been received by the political party; and (ii) The statement contains the accurate financial position of the political party.

The statement of accounts must be submitted on Form-D as prescribed under the rules. Printed forms are available free of charge at the Election Commission Secretariat, Islamabad, and at the offices of provincial election commissioners, Punjab, Sindh, Khyber Pakhtunkhwa and Balochistan.

The membership/certificate issued by the Institute of Chartered Accountants of Pakistan (ICAP) in honor of the dedicated auditor must be included in the Form-D along with the last valid renewal certificate.

Form-D must also be accompanied by a legible copy of each of the bank statements for the period July 1, 2021, through June 30, 2022, of the party, along with a bank reconciliation statement.

Statements will be delivered to the Secretary, Election Commission of Pakistan, at the Election Commission Secretariat, Constitution Avenue, G-5/2, Islamabad, by a party administrator, authorized by the party leader.

In accordance with the provisions of the policies, statements received by post, fax, courier service or any other mode will not be entertained.


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