ISLAMABAD, Oct 17 (NNI): Supreme Court of Pakistan has ordered transfer of funds available in Diamer-Bhasha and Mohmand dams fund to bank account of the government of Pakistan.
Chief Justice of Pakistan Justice Qazi Faiz Issa has written the judgment after hearing Diamer Bhasha and Mohmand Dam Fund case. The 6-page judgment written by Chief Justice Qazi Faiz Isa said that the amount of Dam Fund should be transferred to the public account of the federal government.
The apex court further said that after the funds are transferred, the account of the Supreme Court established for the dam fund should be closed. The SC said a sub-account of the public account of the government should be opened for the transfer of dams fund.
Supreme Court made it clear that whenever govt need money for construction of dams, it can be used from the respective account. On the occasion, SC disposed-off all petitions filed related to Dam Fund.
The decision had been delivered on October 9, with the federal govt requesting the releasing of the funds to the federation and the Water and Power Development Authority (WAPDA).
“A subaccount of the public account of the government should be opened for the transfer of dams fund,” the order stated. The court further instructed the government to ensure the funds earn a markup from private banks, which would help maximize the amount available for future dam construction.
The court clarified that whenever the funds are needed for the construction of the Diamer-Bhasha and Mohmand dams, the money can be accessed from the designated government account. With these directives, the court disposed of all petitions filed in connection with the dams fund case.
On Oct 9, the SC sought actionable suggestions from WAPDA, the auditor general, and the attorney general for Pakistan for the proper utilization of the funds in the dams fund case.
During the hearing, the apex court was apprised that a complete investigation found no misappropriation of the fund.
A three-member bench, headed by Chief Justice Qazi Faez Isa, conducted the hearing, where the court was informed that the dams fund currently holds over Rs23 billion, with Rs11 billion as the principal amount and over Rs12 billion in markup. The chief justice inquired whether the fund could be placed in private banks to generate additional markup.
The central bank legal advisor informed the court that the fund’s money is managed by the government, and any funds allocated for WAPDA must go through the public account. On Sept 11, the federal government had requested the SC for release of the funds to the federation and the Water and Power Development Authority (WAPDA). NNI
