AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad: President Asif Ali Zardari has constituted the 11th National Finance Commission under Article 160 of the Constitution. The announcement was made following a notification shared on X by Khurram Schehzad, Advisor to the Finance Minister.
According to Radio Pakistan, the Federal Minister for Finance will serve as the chair of the commission. The commission will also include all four provincial finance ministers and nominated experts as its members. The National Finance Commission (NFC) is tasked with the responsibility of recommending the distribution of federal revenues among the provinces, as well as the allocation of grants and borrowing powers.
The NFC will also oversee cost-sharing mechanisms for national development projects. This step is seen as a crucial move for equitable financial distribution and effective coordination among federal and provincial governments.