AL submits financial report to EC

Staff Correspondent

1 August, 2017 12:00 AM printer

Ruling Awami League on Monday submitted its financial statement for 2016 calendar year to Election Commission, reporting a total spending of Tk 3.1 crore last year against the income of Tk 4.84 crore.  

The report shows that the party’s annual income was about Tk 1.82 crore higher than its expenditure in the reporting period.

A three-member delegation of AL, led by its presidium member Abdur Razzak, submitted the financial report to Chief Election Commissioner KM Nurul Huda in the morning.

As per the report, the current deposit in AL’s fund is Tk 25.58 crore.Abdur Razzak, after submitting the financial report, told reporters that AL deposits a major portion of its revenue in banks as fixed deposit.

“We keep a portion of income for regular expenditure. This year, we have received Tk 12,464,796 (Tk 1.24 crore) as interest from fixed deposits,” he said.  

The sources of income of the ruling party include fees from party leaders, selling of nomination forms, donation and interest from bank deposits, according to the report.

The party spends money on salaries of employees, paying bonus, entertainment and other expenses, expenses for arranging meetings, publicity expense and distribution of relief.

As per rules, it is mandatory for all the registered political parties to submit their annual financial statements of the previous year to EC by July 31 every year.