Dar directs to expedite work for completion of NFC Award


ISLAMABAD, Nov 3 (APP): Minister for Finance, Muhammad Ishaq Dar on Thursday directed the authorities concerned to expedite work for early completing the 8th National Finance Commission (NFC) Award.

The minister emphasized that since the initial work has been completed, it was now time to expeditiously move to the next steps for completion of the award.

While chairing a meeting to review the progress so far achieved by
the Working Groups constituted by the NFC for the next NFC Award, the  minister stated that all stakeholders needed to focus on resource mobilization and strengthening of relations between the federation and the provinces to achieve national harmony and partnership on the path to development and progress.

He directed the relevant federal ministries to complete  inter-ministerial consultation on recommendations of the four Working Groups by end of next week.

He also stressed on doubling efforts both at the federal and provincial level to increase revenue mobilization in order to achieve higher GDP growth.

During the meeting the finance minister was briefed on the progress
of the four Working Groups which were established in the first NFC meeting  held on April 28, 2015.

The finance minister was briefed that draft reports of the four  Working Groups on Resource Mobilization, Devolved Vs Integrated Tax Structure, Allocation Efficiency and Expenditure Analysis and Rationalization of Subsidies and Grants have been completed.

The initial reports of the three groups were discussed in a meeting on
September 5, 2016 at Lahore. The 4th report is complete for sharing with the provincial governments.

The finance minister directed that the next NFC meeting should be
convened by end November, 2016.

The meeting was attended by senior officers of Ministry of Finance and
the Federal Board of Revenue.