Federal Minister for Finance Shaukat Tarin briefs the media on the NFC Award at Governor House. -APP PhotoThursday, 29 Oct, 2009
PESHAWAR: The National Finance Commission that met here with Federal Finance Minister Shaukat Tarin in the chair Thursday while concluding discussion on the vertical and horizontal distribution of the national resources, agreed on multiple criteria regarding resources’ distribution among the Federation and Federating Units leaving aside the sole criteria of population.
Briefing newsmen after the marathon NFC meeting, the Finance Minister said, the provinces agreed to the distribution of resources on multiple criterions like population, poverty, revenue generation,area, backwardness etc.
'Every province has its own criteria, but we will develop consensual criteria about the distribution of the resources,' he explained.
Currently the provinces get 49 per cent of the divisible pool while the federation is getting 51 per cent, he added. He admitted that the NWFP Government aggressively pleaded its case in the meeting.
The Punjab has shown flexibility over multi-factors criteria, he added.
'We have completed our job now the technical committees of the NFC would further thrash the fiscal matters to reach at a logical end', he remarked.
He declared in clear terms that the next NFC award would be evolved shortly as he does not see problem in evolving a consensus award.
'The next meetings of the NFC will be held in Karachi on November 18 and 19, 2009,' Tarin announced.
'Every province has its own criteria, but we will develop consensual criteria about the distribution of the resources,' he explained.
Currently the provinces get 49 per cent of the divisible pool while the federation is getting 51 per cent, he added. He admitted that the NWFP Government aggressively pleaded its case in the meeting.
The Punjab has shown flexibility over multi-factors criteria, he added.
'We have completed our job now the technical committees of the NFC would further thrash the fiscal matters to reach at a logical end', he remarked.
He declared in clear terms that the next NFC award would be evolved shortly as he does not see problem in evolving a consensus award.
'The next meetings of the NFC will be held in Karachi on November 18 and 19, 2009,' Tarin announced.
To a question about payment of net hydel profit to the NWFP, the Finance Minister said, the Prime Minister would give good news to this effect when he will visit the provincial capital on Oct.30 (Friday).
The meeting also agreed to take into consideration the war damages while distributing the resources and referred to the case of the frontier province which massively hit by the terror war.
The Federal Government, he said with an open heart reduced its distribution proposals from six to three in order to accommodate the provinces’ view point.
Shaukat Tarin said the meeting thoroughly debated the vertical and horizontal aspects of the federal divisible pool and ended up the two-day discussion in one day due to accommodative atmosphere in the meeting.
The meeting observed that the federation and provinces would have to gear up its resources to meet their growing fiscal needs and
added that the meeting decided to hand over the collection of the Capital Value Tax to the provinces in the next award so that their revenue sources could be enhanced.
He maintained that the federation believed the country could not prosper sans strong provinces and in this spirit we are trying to accommodate all the genuine demands of the provinces. He assured that the provinces would get their rights as enshrined in the constitution.
The meeting also agreed to take into consideration the war damages while distributing the resources and referred to the case of the frontier province which massively hit by the terror war.
The Federal Government, he said with an open heart reduced its distribution proposals from six to three in order to accommodate the provinces’ view point.
Shaukat Tarin said the meeting thoroughly debated the vertical and horizontal aspects of the federal divisible pool and ended up the two-day discussion in one day due to accommodative atmosphere in the meeting.
The meeting observed that the federation and provinces would have to gear up its resources to meet their growing fiscal needs and
added that the meeting decided to hand over the collection of the Capital Value Tax to the provinces in the next award so that their revenue sources could be enhanced.
He maintained that the federation believed the country could not prosper sans strong provinces and in this spirit we are trying to accommodate all the genuine demands of the provinces. He assured that the provinces would get their rights as enshrined in the constitution.
The NFC meeting also strongly condemned the city blast and held it an act of cowardice. Despite the unrest in NWFP, we did not postpone the meeting in order to pass on message to the militants that such barbaric incidents could not deter the government’s resolve of peace and tranquility.
'We equally share in our grief and sorrow with the people of Peshawar and we are standing behind them in this hour of tragedy', he added.
The Finance Minister held out categorical assurance that the Federal Government would fully support the CRBC project when it would be floated in the ECNEC meeting.
In response to a question, he said the NWFP Government would receive its share of aid in the wake of Kerry-Lugar bill. -APP
'We equally share in our grief and sorrow with the people of Peshawar and we are standing behind them in this hour of tragedy', he added.
The Finance Minister held out categorical assurance that the Federal Government would fully support the CRBC project when it would be floated in the ECNEC meeting.
In response to a question, he said the NWFP Government would receive its share of aid in the wake of Kerry-Lugar bill. -APP
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