Talking money: PTI cash dwarfs rivals in campaign splurge

PML-N incurred Rs560m on election expenses as against PPP’s Rs232m.

ISLAMABAD:

The symbolic bat of the Pakistan Tehreek-i-Insaf has whacked the ball out of the park with total expenditure in the last year amounting to a whopping Rs960 million – the highest monetary outflow of any political party for 2012 – 2013.

The expenditure and the income of the PTI is more than the Pakistan Peoples Party and Pakistan Muslim-League Nawaz put together – at least on paper.

While the Election Commission of Pakistan (ECP) is yet to disclose the complete financial accounts of several parties, including the PTI, The Express Tribune exclusively obtained the official details of the party’s assets as submitted to the commission. The PPP and PML-N’s assets were disclosed by the ECP on Thursday.

PTI Chairman Imran Khan spent Rs960,155,819 for overhead party costs, payments and fixed assets. The party’s total income receipt amounts to Rs1.05 billion for this financial year.

While the party started the fiscal year with an opening balance of nearly Rs38 million, the net balance at the close of the year was about Rs132 million.

PTI leaders quoted Imran as saying that the party met its financial expenditures through fundraising campaigns.



Through contributions by its chairman as well as local and international donors, the party raised funds worth Rs1.05 billion.

It paid about Rs410 million for advertising and marketing expenses; Rs235 million for public events expenses; Rs24 million in salaries; Rs11 million for entertainment; and Rs53 million for printing and stationery.

The party spent an estimated Rs70 million in financial assistance to candidates, with Rs6.6 million allocated to travelling and conveyance.

The party’s total value of assets was Rs170 million, including a net balance worth Rs133 million in cash by the end of the last fiscal year (June 30, 2013). According to the documents, there was no liability on the heads of party.

It is pertinent to mention that in accordance with the Political Parties Order, 2002, PTI has disclosed the name of the auditors and declares that it has details of the sources of all funds.

Central Secretary Finance of PTI Azhar Tariq Khan claimed that the company that audited PTI’s accounts – Muniff Ziauddin and Company – is among the ‘A-list’ of audit companies which can review accounts worth more than Rs1 billion.

“We’ve audited the accounts of Pakistan Tehreek-i-Insaf together with the notes forming part thereof for the year ended on June 30, 2013,” stated Shahid Farid of Muniff Ziauddin and Company.

Established in the year 1961, the company is on the panel of auditors formed by various governmental authorities such as the State Bank of Pakistan (SBP), where the firm enjoys ‘category A’ status.















What the PML-N and PPP are worth?

With assets worth Rs87 million, the ruling Pakistan Muslim League-Nawaz (PML-N) spent Rs560 million in the general elections in 2013. The PML-N collected Rs448.4 million as donations from workers while its net bank balance is Rs61.2 million. It had a net balance of Rs53.1 million by the closing date of the last fiscal year (July 1, 2012). Details released by the ECP further revealed that the party spent Rs3.8 million on refreshments and that the audit was conducted by Dilroze Khan and Company.

PML-N leader Syed Zafar Ali Shah said the party need not spend big money in the general election, as it is an old party with roots across the country. He stressed that new legislation may empower the top polls body to check on the spending of individuals and political parties.

The Pakistan Peoples’ Party (PPP) appears to be the third ‘richest’ party in this race. Its assets increased to Rs30 million, including expenditures worth Rs414 million by June this year. It owned assets worth Rs384 in June 2012. Total expenses for the year 2012-13 were Rs259 million, while the party’s total receipts were valued at Rs35 million. The total value of the assets of PPP is Rs4.5 million while its annual income is Rs35.6 million. The bank balance of the PPP is Rs191.01 million, while it spent Rs232 million in general elections. Interestingly, PPP spent Rs3 million on its media office during the last fiscal year. Azim and Company conducted the audit of PPP accounts.

Others

The Muttahida Qaumi Movement owns assets (including receipts and payments account) worth Rs401 million by June 2013. The party receipts amount to Rs339.2 million. Donations remained the main source of the party’s funds as it raised Rs326 million during the last fiscal year. The party spent Rs115 million on programmes and promotions last year. Party workers spent Rs34 million on travelling. Saud Ansari and Company audited the party’s accounts.

The Awami Muslim League’s total assets amount to Rs113,000, while its income receipts remained Rs305,084 for the last fiscal year. M Hanif and Company audited the accounts of AML

Assets of Jamaat-e-Islami receipts and expenditures drastically decreased by some Rs16 million. The party’s assets including expenditures and receipts valued Rs41.7 million by the end of June 2013, while its assets amounted to Rs57.4 million in June 2012. The major source of party funds, which have a balance amount of Rs4 million, is the donations. Rahim Jan and Company audited the accounts of JI.

The assets of the Awami National Party increased slightly by around Rs1 million, as the party’s expenditures and receipts valued Rs28 million by June 30, 2013, while its fixed assets were Rs27.2 million. The value of party land was worth Rs25 million. Musthaq and Company conducted the audit of ANP accounts.

JUI-F has assets of Rs 1.124 million and its income is about Rs0.8 million. Meanwhile, the Aap Janab Sarkar Party has revealed assets worth Rs88,000 while it had to bear the burden of Rs988 after paying its rent and bills.

Pakistan Muslim League Muttahida does not have a single penny in its account.


Published in The Express Tribune, December 27^th, 2013.