ISLAMABAD: The first meeting of the reconstituted 9th National Finance Commission, upon strong demand of all provinces, agreed upon division of resources in line with the with 18th Amendment.
According to details, Finance Minister Asad Umar chaired first meeting of the reconstituted 9th National Finance Commission in Islamabad today.
Finance Ministers of all provinces along with secretaries of all provinces were part of this all-important meeting session.
In the meeting held in Federal Capital today, the Federal Finance Secretary briefed the participants on the current financial situation of Pakistan.
Meanwhile, the Provincial representatives also informed the member of meeting regarding the financial state of their provinces.
Under the direction of Finance Minister Asad Umar, six groups have been formed tasked to prepare the recommendations for division of resources among all provinces.
It was also agreed that fiscal allocation should reflect the true spirit of 18th amendment with the NFC meeting after every six weeks from onwards.
It is noteworthy to mention that the last NFC Award was signed in December 2009 that drastically increased the provincial share from the divisible pool.
