Acting President Sadiq Sanjrani has given his approval to the amended Finance Bill 2023-24 and the Elections (Amendment) Bill 2023.
These bills were previously passed by the National Assembly.
Sanjrani assumed role of Acting President since Dr.Arif Alvi went for Hajj.
The Finance Bill underwent several changes, including fiscal tightening measures, in accordance with the International Monetary Fund’s (IMF) requirements to secure critical funding.
These measures aim to generate additional revenue and reduce spending without affecting the federal development budget or the salaries and pensions of government employees.
Simultaneously, the National Assembly passed an amendment to the Elections Act 2017 the other day. The amendment limits the disqualification of lawmakers to a maximum of five years, retrospectively. It also empowers the Election Commission of Pakistan to unilaterally announce election dates without consulting the president.
The bills were approved with only 70 lawmakers from the treasury benches and two from the opposition present, while notable figures such as Foreign Minister Bilawal Bhutto-Zardari, PPP co-chairman Asif Ali Zardari, and Leader of the Opposition Raja Riaz were absent.
Furthermore, the approved budget for the upcoming fiscal year includes revised revenue targets and expenditure cuts to meet IMF conditions. The revenue collection target has been set at Rs9.415 trillion, and total spending is projected at Rs14.48 trillion. The share of provinces will increase to Rs5.39 trillion from Rs5.28 trillion. The budget also includes revisions to the allocation for the Benazir Income Support Programme and an increase in the petroleum development levy.
The changes in the budget were made following a meeting between Prime Minister Shehbaz Sharif and IMF Managing Director Kristalina Georgieva during the Global Financing Summit in Paris. The government aims to secure much-needed bailout funds as the IMF loan program agreed upon in 2019 is set to expire on June 30.
Moreover, the Elections (Amendment) Bill 2023, labeled as “person-specific legislation” by the opposition, has potential to ensure return of PML-N leader Nawaz Sharif and Istehkam-i-Pakistan Party (IPP) patron Jahangir Khan Tareen into main stream politics.
The amendment to Section 232 of the Elections Act aims to limit the period of disqualification under Article 62(1)(f) of the Constitution to a maximum of five years, emphasizing the need for a fair trial, due process, and the right of appeal.
The amendment also focuses on the Election Commission’s authority, allowing them to announce election dates unilaterally and make necessary alterations to the election program. Critics argue that this amendment favors certain individuals.
