According to the proposal, political parties can earn only from the sources specified by the constitutional body. They can collect money from party membership fees, levies and voluntarily donation from individuals and corporate sectors. [break]
The state will set up a permanent fund to provide financial support to political parties that win at least one seat in provincial parliament. The financial support will be increased proportionately to the number of seats they won in the last elections.
Likewise, political parties must appoint an official to oversee their financial activities as per the proposed new provision. They cannot collect donations without permission from such official.
“The party can collect donations from individuals and corporate sectors only if the concerned official gives a written consent,” said an EC official who was involved in drafting new proposal.
According to the proposal, political parties cannot collect donations from anyone by crossing ceiling set by the constitutional body. However, the ceiling amount has not been fixed yet.
Political parties cannot collect donation from foreigners and public companies, according to the proposal.
Likewise, individuals and profit-orientated companies can donate to political parties.
Asked if an individual can voluntarily donate to a political party as much as he/she wishes, the EC official stated, “The ceiling set by the commission will be applicable in cash donations.”
Political parties must submit their audited financial reports to the EC by the second week of February of each fiscal year. Similarly, they must publish annual audit report for public information.
Political parties must submit the details of their expenditures during election to the EC within 60 days after announcement of the final results. Likewise, a candidate must submit his expenditure report to the concerned party within 60 days.
Then the concerned political party will submit reports provided by candidates to the EC within the next 60 days.
At the meeting with the EC, political leaders argued that the constitutional body is trying to control financial activities of political parties.
“But we have made it clear that the EC wants to work as a regulatory body and not as controlling body,” said Joint Secretary at the EC Madhu Prasad Regmi, who heads legal department of the commission, adding, “This will make the political parties more accountable.”
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