Moonis Elahi, the Minister for Water Resources claims that government did not spend the entirety of the dam fund on the construction of the Diamer Bhasha and Mohmand Dam.
According to Geo News, details of the dam fund were submitted to the National Assembly. As per the details, the dam fund set up by former Chief Justice Saqib Nisar gathered more than Rs. 12.93 billion. However, currently, the account holds only Rs. 799,358.
Moonis Elahi also clarified that Supreme Court is the custodian of the fund and the Ministry of Water Resources does not have any access to it.
Supreme Court is the custodian of this fund. Ministry of Water Resources doesn’t have access to these funds. https://t.co/0IBsoGtBdN
— Moonis Elahi (@MoonisElahi6) August 11, 2021
As per media reports, the government of Pakistan invested the entirety of the dam fund on treasury bills. Regarding this, the official fundraising webpage clearly states that the National Bank of Pakistan made investments in market treasury bills.
“NBP [National Bank of Pakistan] has made investments in market treasury bills, as detailed above, in compliance with the Supreme Court of Pakistan orders in Case C.M.A. No. 6155 of 2018 in Constitution Petition No. 57 of 2016,” the statement said.
Read more: Has SBP caused Supreme Court a loss of millions on dam fund?
After investments in treasury bills, the current account balance of the fund stood at Rs17 million. On the other hand, according to reports by Geo news, the current balance to this date is a mere Rs. 799,358. In short, none of the funds donated for the dam were used for the construction.
Reaction to the news
Furthermore, in a recent talk show, journalist Kamran Shahid asked Senator Faisal Vawda whether he knew anything about the recent revelations.
To which Senator Vawda replied that as Moonis Elahi is the current Minister of Water Resources, we should listen to him. We should also verify from the government.
“However, I am in no place to comment on this,” Senator Faisal Vawda added.
Kamran Shahid then said this is a great betrayal for the people of Pakistan. The fund comprised of taxpayers’ money and it would be a betrayal if the government invested it without the population’s knowledge.
Faisal Vawda then asserted that the money was with the Supreme Court the day he resigned. At that time, the government of Pakistan did not utilize the money anywhere and it could not.
Read more: Faisal Vawda resigns from National Assembly
“Where and how to use the money is the prerogative of the Supreme Court. We do not have custody of the fund,” Faisal Vawda said. He also called out Kamran Shahid by saying that he is not to be blamed for this as he is not the concerned minister.
Kamran Shahid later said that it is a concerning issue that needs an inquiry.