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Tuesday, 12 February 2013

In what financial matters the prior approval of the federal government is required, before introducing such bill in the national assembly?

In what financial matters the prior approval of the federal government is required, before introducing such bill in the national assembly?
A money bill, or a bill or amendment which if enacted and brought into operation would involve expenditure from the federal consolidated fund or withdrawal from the public account of the federation or effect the coinage or currency of Pakistan or the constitution or function of the state bank of Pakistan shall not be introduced or moved in parliament except by or with the consent of the federal government. (Art. 74)
What is federal consolidated fund and Public Account?
Federal consolidated fund
All revenue receipts received by the federal government, all loans raised by that Government, and all money received by it in repayment of any loan, shall form part of a consolidated fund, to be known as the federal consolidated fund.
Public account
All other money then those mentioned in the list of consolidated fund.  
(A) received by or on behalf of the Federal Government or  
(B) received by or deposited with the Supreme court or any other court established under the authority of the federation.
Shall be credited to the public account of the federation. (Art. 78)

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