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ECP scrutiny committee says PTI hid funds, but no word on foreign funding

11:55 PM | 4 Jan, 2022
ECP scrutiny committee says PTI hid funds, but no word on foreign funding

A scrutiny committee of the Election Commission of Pakistan (ECP) looking into the allegations of foreign funding to the Pakistan Tehreek-e-Insaf (PTI) said on Tuesday the ruling party hid funds worth millions of rupees from the ECP.

The report submitted by the committee said the PTI provided the ECP "false information" regarding the party funding. It said that SBP's bank statement revealed the party had received Rs1.64 billion in funding.

The report said the party did not disclose more than Rs310 million funding to the ECP. The committee was formed in 2019 to audit foreign funding received by the PTI. The case began in 2014 when the party's founding member, Akbar S Babar, filed it.

Babar said the PTI received funding from illegal sources and that it was involved in money laundering.

Today, in a tweet, Babar thanked Allah, saying he stands "vindicated".

In a related development, Information Minister Fawad Chaudhry said at a press conference "there is no question of foreign funding" according to the committee's report. He demanded scrutiny of the accounts of the PML-N, PPP and all other political parties.

"The report [of the ECP scrutiny committee] does not point towards foreign funding [...] it has been decided that there is no case of foreign funding," the information minister said.

He demanded the election commission put the facts of the foreign funding case before the nation, so that people can decide which party is raising funds through which means.

PTI has 'most transparent' funds collection mechanism

Minister for Planning, Development and Special Initiatives Asad Umar said earlier in the day that the PTI had the "most transparent" process of receiving funds and everything was documented.

Talking to journalists outside the ECP office in Islamabad, the minister said scrutinising bank accounts related to foreign funding of political parties was the ECP's job. However, he said the commission must do its work in the most transparent and impartial way.

"If ECP accomplishes its work transparently and impartially, it would have a very positive impact on Pakistan's politics," he said.

The federal minister said the scrutiny committees for bank accounts of PPP and PML-N had also been formed, and the ECP should also review reports prepared for those parties' bank accounts.

"There are a large number of secret accounts of the PPP and PML-N in addition to other accounts opened in the names of fake persons," the federal minister said.

Daily Pakistan Global Web Desk

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Pakistan Open Market Forex Rates - Rupee foreign exchange rate against US Dollar, other currencies - 1 May 2024

Pakistani currency rates against US Dollar and other currencies on May 1, 2024 Wednesday in open market.

USD to PKR rate today

US dollar was being quoted at 277.25 for buying and 280.15 for selling.

Euro comes down to 293.5 for buying and 296.5 for selling while British Pound hovers at 344.45 for buying, and 347.85 for selling.

UAE Dirham AED was at 75 and Saudi Riyal's new rate was at 73.35.

Today’s currency exchange rates in Pakistan - 1 May 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar USD 277.35 280
Bahrain Dinar BHD 740.35 748.35
Canadian Dollar CAD 203 205
China Yuan CNY 38.49 38.89
Danish Krone DKK 40 40.4
Euro EUR 293.5 296.5
Hong Kong Dollar HKD 35.57 35.92
Indian Rupee INR 3.34 3.45
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 904.08 913.08
Malaysian Ringgit MYR 58.33 58.93
NewZealand Dollar NZD 166.25 168.25
Norwegians Krone NOK 25.32 25.62
Omani Riyal OMR 722.99 730.99
Qatari Riyal QAR 76.48 77.18
Saudi Riyal SAR 73.35 74
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.46 25.76
Swiss Franc CHF 305.64 308.14
Thai Bhat THB 7.52 7.67
U.A.E Dirham AED 75 75.75
UK Pound Sterling GBP 344.45 347.85
Australian Dollar AUD 179.2 181

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