Staff Reporter
Islamabad
President Dr Arif Alvi finalised the 10th National Finance Commission on Tuesday, according to an official notification issued regarding the composition of the committee that will decide the share of fiscal resources earmarked for provinces.
According to the notification, Federal Finance Secretary Naveed Kamran Baloch will serve as an expert for the commission.
The Adviser to the PM on Finance and Revenue, Dr Abdul Hafeez Shaikh, will preside over the commission’s functions in the absence of a finance minister.
The NFC award will be considered effective from April 23, 2020. The notification said that the Terms of Reference have been issued for the commission.
The Minister for Finance, Government of Pakistan will be Chairman; Minister for Finance, Government of Punjab, Member; Minister for Finance, Government of Sindh, Member; Minister for Finance, Government of Khyber Pakhtunkhwa, Member; Minister for Finance, Government of Balochistan, Member; Advisor to the Prime Minister on Finance and Revenue, Member; Tariq Bajwa, Government of Punjab, Member; Dr Asad Sayeed, Government of Sindh, Member; Musharraf Rasool Cyan, Government of Khyber Pakhtunkhwa, Member; Javed Jabbar, Government of Balochistan, Member and Finance Secretary, Government of Pakistan, Official expert
In January 2019, an official notification from the Finance Division was issued on the government of Pakistan’s decision to reconvene the NFC.
Under the existing NFC arrangements, the Federal Divisible Pool is distributed under the ratio of 57.5% to 42.5% among the provinces and the federal government, respectively. By definition, the NFC Award is a constitutional obligation, which is clearly mentioned in the Article 160 of the 1973 Constitution.
