Murad Ali Shah chairs preparatory meeting for NFC award

Karachi: Sindh Chief Minister Syed Murad Ali Shah chaired a preparatory meeting for the ninth National Finance Commission (NFC) award meeting scheduled on February 6. CM Shah in the meeting said Sindh has taken stance that the Gas Infrastructure Development Cess (GIDS) should be handed over to the provinces. He said under Article 161 of the constitution crude oil and natural gas should be transferred to the federating units. He said Sindh wants its share from the GIDS revenue collected by the federal government till now. He said Sindh wants the provinces’ should be given right to collect royality on their resources. Shah said that the previous federal government had constituted various groups for the NFC Award. The meeting was attended by Principal Secretary Sajid Jamal Abro, provincial secretary finance and experts of finance department and Sindh Revenue Board (SRB). Finance Minister Asad Umar will chair the first meeting of the ninth National Finance Commission (NFC) award on February 6. The participants of the meeting will be briefed on the fiscal position of the federal government as well as of the provinces. The meeting will also have a general discussion on strategy for deliberations over the new NFC Award. President Dr Arif Alvi had reconstituted the ninth National Finance Commission (NFC) to formulate a new resource distribution formula between the Centre and federating units. The Finance Division had notified the new 10-member Commission. Finance Minister Asad Umar was named as chairman of NFC which comprises the four provincial finance ministers. The National Finance Commission Award is a constitutional obligation. It is clearly indicated in the Article 160 of the “Constitution of Islamic Republic of Pakistan, 1973” that it has been made mandatory for the government to compose NFC Award at an interval extending not more than five years for the amicable resource distribution among the federation and its respective units.