KARACHI – The State Bank of Pakistan (SBP) has unequivocally rejected a news report published in a prominent English language newspaper regarding the bank accounts of Pakistan Tehreek-i-Insaf (PTI) being submitted to the Election Commission of Pakistan (ECP).
In a press release issued on Thursday, the central bank emphasized that it neither maintains a database of individual bank account holders nor possesses any related information or records of the same. The SBP clarified that it is the banks themselves that act as the custodians of customers’ information, and they may directly provide this information to various agencies on a case-by-case basis, adhering to the procedures set out under the respective laws.
The news item in question claimed that SBP had reported 18 undeclared bank accounts belonging to PTI out of a total of 26 to the ECP, as per undisclosed sources. The SBP firmly refuted this claim, asserting that it has not provided any such information to the ECP.
In fact, the SBP revealed that in July 2018, it was the Election Commission of Pakistan that sought assistance from the central bank in obtaining bank account-related information of PTI for the years 2009 to 2013. This request was made in accordance with the Commission’s mandate, which is enshrined in the Constitution of the Islamic Republic of Pakistan and the Election Act of 2017.
In response to the Election Commission’s request, the SBP carried out its responsibilities by advising all banks to provide the required information and data directly to the ECP by the due date. This directive followed the procedures established under the law.
The SBP’s statement comes as a significant clarification, dispelling the doubts raised by the media report regarding PTI’s bank accounts. The report, which had suggested that PTI had undisclosed bank accounts, had caused a stir in political circles and the general public.
Political analysts and experts had weighed in on the situation, with some suggesting that such allegations could have serious repercussions for PTI. Opposition parties had also seized upon the news, demanding an immediate investigation into the matter.
Now, with the SBP’s clarification that it was merely facilitating the Election Commission in obtaining the requested information, it remains to be seen how this development will impact the political landscape in Pakistan. PTI supporters are likely to find relief in the SBP’s statement, while the opposition may reassess its stance.
As the country moves forward, it is expected that the Election Commission of Pakistan will continue to carry out its constitutional duties, ensuring transparency and accountability in the political process. Furthermore, this incident serves as a reminder of the importance of accurate and verified information in the media and its impact on the nation’s political discourse.
