Efforts afoot to finalise 9th NFC Award process by Dec 31: finance minister
- By Web Desk -
- Mar 29, 2019
ISLAMABAD: The meeting of 9th National Finance Commission Award with Finance Minister Asad Umar in the chair on Friday decided to finalise the NFC Award by December 31, ARY News reported.
The meeting discussed the resource distribution formula between the center and the federating units.
Finance Minister Umar said efforts were being made to complete the process of 9th NFC Award by December 31, 2019, besides improving the federal and provincial governments’ coordination about collection of taxes.
Asad Umar said provinces would be included in next talks with the International Monetary Funds (IMF).
He also directed to make the NFC Secretariat more active.
Read More: NFC meeting reviews proposals for national resources’ distribution
Six working groups on this occasion briefed the meeting about distribution of the NFC Award.
The representative of the Khyber Pakhtunkhwa government gave suggestion for equal distribution of financial resources. All the members of the body appreciated this suggestion.
The NFC members also decided to convene next meeting of the NFC in April. The next meeting will discuss share of the tribal areas in the NFC Award and suggestions for taxes to make business environment better.
The finance minister directed for briefing on poverty reduction and social expenditures in the next meeting.
The last NFC award was signed in December 2009 in which greater share was given to the provinces from the federal divisible pool.