The 11th NFC Award will commence the first session on August 29 with Finance Minister Muhammad Aurangzeb leading the session as the chairman of NFC. The first meeting will serve to establish the basis of financial planning in Pakistan and is expected to attract all members of the commission to participate in important debates.
The reports indicate that the session will concentrate on three action points that include assessing the recommended awarding scheme, determining the appointment of sub-groups, and negotiating the agenda of the next meetings. It is believed that the session will lay down a strategic roadmap on equal resource sharing between the federal government and provinces.
On August 22, President Asif Ali Zardari formulated the 11th NFC constitutionally and subsequently, the Finance Ministry notified that the NFC Secretariat was established. The commission is made of nine members with the federal finance minister acting as the chairman and the finance minister of the four provinces being members.
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Analysts observe that a decisive first session of the 11th NFC Award will result in fiscal policies and revenue-sharing formula to bring regional balance in growth. The flexibility of the sub-group formation will enable them to analyze provincial needs in a detailed manner whereas the roadmap will enable them to have clarity on forecasting the timelines on final recommendations.
The first session of the 11th NFC Award will unite major policymakers and contribute to the development of mutual cooperation and openness in the process of decision-making. All stakeholders and analysts are keenly waiting to see how this historical encounter will have a lasting impact on Pakistan in terms of its economic planning and intergovernmental fiscal coordination.
