ISLAMABAD Constitutional provisions that provide the president of Pakistan the authority to declare a financial emergency are gaining attention as the new fiscal year draws near, especially in view of recent budgetary difficulties that province governments have encountered.
If the economic or financial stability of a province or the entire nation is in jeopardy, the president of Pakistan may declare a financial emergency in accordance with Article 235 of the Constitution.
According to The News, this important clause acts as a buffer to preserve the country’s economy in times of serious financial crises.
If such an emergency is proclaimed, the federal government is greatly empowered to give the provinces legally binding orders to enforce fiscal restraint.
