ISLAMABAD: Finance Minister, Asad Umar on Wednesday chaired the first meeting of the reconstituted National Finance Commission (NFC) in Islamabad today with Finance Minister Asad Umar in the chair.
The meeting discussed the financial position of the provinces and the centre with various recommendations put forward for better distribution of national resources under the new NFC award.
The meeting formed six subgroups to put forward proposals for FATA affairs, ease of doing business, macro-economic issues and horizontal and vertical distribution of resources. The meeting also emphasised on complete data sharing amongst the federal and provincial governments.
During the meeting, the federal finance secretary gave a detailed presentation on the fiscal position of the country while the provincial representatives gave presentations on the financial position of their provinces.