Finance Minister Senator Ishaq Dar chaired a meeting on Thursday to review progress so far achieved by the Working Groups constituted by the National Finance Commission for the next NFC Award.
The finance minister was briefed on the progress of the four Working Groups which were established in the 1st NFC meeting held on April 28, 2015. The finance minister was briefed that draft reports of the four Working Groups on (i) Resource Mobilisation (ii) Devolved Vs Integrated Tax Structure (iii) Allocation Efficiency and Expenditure Analysis and (iv) Rationalisation of Subsidies and Grants have been completed. The initial reports of the three Groups were discussed in a meeting on 5th September, 2016 at Lahore. The 4th report is complete for sharing with the provincial governments.
The Finance Minister stressed on doubling efforts both at the Federal and Provincial level to increase revenue mobilisation in order to achieve higher GDP growth.
The minister emphasised that since the initial work has been completed, it was now time to expeditiously move to the next steps for completion of the Award. The Minister stated that all stakeholders need to focus on resource mobilisation 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. The minister further 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.-PR
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