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NFC

Finance ministry seeks early nominations of NFC members from provinces

ISLAMABAD: Ministry of Finance on Thursday called upon provincial governments to reconfirm their nominations of non-statutory members for National Finance Commission "as early as possible", ARY News reported. According to details, Ministry of Finance has "now reminded the provincial finance secretaries to make the requisite nominations", as so far none of the provincial governments have shared the names of their respective non-statutory members. In terms of Clause (1) of article 160 of the Constitution, the 9th…

Tribal leaders ask Imran to provide three percent of NFC award for Fata

ISLAMABAD: Tribal leaders on Tuesday asked Prime Minister Imran Khan to provide three percent of the National Finance Commission Award (NFC) for Federally Administered Tribal Areas (Fata) as soon as possible, ARY News reported. This demand was presented before the PM by a delegation of parliamentarians from the Fata region led by Muneer Khan Orakzai in a meeting in Islamabad. Governor Khyber Pakhtunkhwa Shah Farman was also present on this occasion. Imran assured them to soon give them three percent of share from the…

Provinces’ dissent delaying next NFC award, says Dar

ISLAMABAD: Explaining the reason behind delay in the announcement of next National Finance Commission (NFC) award, Finance Minister Ishaq Dar on Tuesday said that the current NFC award would remain intact until consensus with the provinces reached on the matter. The finance minister said it while winding up the budget debate in the National Assembly on Tuesday evening. He said the government wanted to allocate three percent each to Federally Administered Tribal Areas (FATA), Gilgit-Baltistan, and Azad Kashmir out of…

Ishaq Dar chairs NFC meeting

ISLAMABAD: The members of federal and provincial assemblies on Monday unanimously approved half yearly report of fiscal year 2013-14 during the meeting of 7th National Finance Commission (NFC) Award, ARY News reported.

Govt to introduce new NFC award in 2015: Dar

ISLAMABAD: Finance Minister Ishaq Dar said government was bringing new National Finance Award (NFC) Award next year and imposition of agriculture tax in the next NFC will also be pondered, ARY News reported. Speaking in the ARY Program ‘11th Hour’ hosted by Waseem Badami on Thursday night, the finance minister said government intended to amend constitution to impose tax on agricultural income, however, provinces opposed the move. He said new NFC award would be introduced in 2015. He told the country’s economy suffered loss…