Ishaq Dar Presents Bill in Parliament for Funding of Elections

Former Finance Minister Ishaq Dar, who has been in London for medical reasons, has presented a bill in the National Assembly for the funding of elections. Dar submitted the Election Act Amendment Bill 2021 calling for the establishment of an Electoral Reforms Commission to supervise the funding of elections. The bill aims for transparency in election financing and to prevent corruption in the electoral system. With the current state of economic affairs in Pakistan, the bill’s significance cannot be underestimated. The development of electoral transparency and confidence will contribute significantly to the country’s growth and stability.

Bill for Election Financing

The bill, which aims to facilitate the funding of elections, was presented by Dar during a National Assembly session. According to the bill, the Electoral Reforms Commission will be responsible for appointing officers who will collect political donations, and record them in a real-time database. It will set up an electronic voting system, which will record each vote with biometric authorization. The bill also seeks to increase the transparency of election funding sources and regulate them accordingly.

Aimed at Curbing Corruption

The Election Act Amendment Bill 2021 is an effort to curb the corruption in the country’s electoral systems. The bill addresses the issues relating to unauthorized funding of political parties and candidates, which is reportedly rampant in Pakistan. With transparency measures in place, the bill will help eliminate corrupt practices such as fake bank accounts, bribery, and other unethical activities during the election process. The act will also ensure that only legally sourced funds go into financing election campaigns.

A Significant step towards transparency

The amendment bill is a step forward in terms of transparency and accountability in Pakistan’s electoral system. Transparent electoral processes are essential for building voters’ trust and confidence in democracy. Once passed, it will create confidence in the election process, and people will be more inclined to participate actively. Financial transparency also helps curb vote-buying and support the citizens’ right to know about the money spent on election campaigning.

Important for Pakistan’s Economic Wellness

Pakistan’s economic challenges are significant, with pandemic-driven economic contraction and other issues such as corruption, high inflation, and low economic growth. Most of these issues highlight the importance of the country’s political stability. Transparent and fair elections are essential for creating political stability, which has a direct impact on the economy. Free and fair economic policies operate in a political system that the citizens trust. The approval of the Election Act Amendment Bill 2021 would lay the foundation for building that trust.

Hashtags

#ElectionFinancing #ElectionReform #PakistanPoliticalReform

Summary

Ishaq Dar’s Election Act Amendment Bill 2021 is a significant move towards financial transparency in Pakistan’s electoral system. The bill will establish an Electoral Reforms Commission responsible for supervising the funding. The goal is to eliminate issues such as unauthorized financial support, curbing corruption, and increasing election process transparency. The amendment bill will likely contribute to the country’s economic wellness, fostering confidence and stability for investors and building a thriving economy. #NEWS