NATIONAL FINANCE COMMISSION

NATIONAL FINANCE COMMISSION (NFC) is a constitutional body constituted under Article 160 of the Costitution of the Islamic Republic of Pakistan, 1973. The Order of the President in the light of the recommendations made by the NFC is known as NFC Award.

NFC shall be comprised of Federal Finance Minister, Provincial Finance Ministers, and other persons appointed by the President in consulatation with the Governer Genrals of provinces.

The functions of the NFC are: (a) The distribution of tax proceeds b/w the Federation and the provinces; (b) the making of grants in aid by the Federation to the Provincial govts; (c) the exercise of borrowing powers of the Federation and the provinces; (d) any matter pertaining to finance referred by President.


Could any body point out the very issues hindering the finality of the Award?

Thanx

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Introduction.


NFC – National Finance Commission is a constitutional body set up for the distribution of financial resources among the provinces by federal government on annual basis, called National Finance Commission Award. Certain types of taxes collected in each province are pooled, and then redistributed according to the NFC formula.


Constitutional Provision of NFC.


NFC is constituted under Article 160(1) of the 1973 constitution (Annex I) and proposed to be held at the intervals of five years.


Composition of NFC.


Federal Finance Minister – Chairman
Provincial Finance Ministers and other concerning experts which the President may appoint after consultation with provincial Governors [Constitution of Pakistan (1973)].


Main Charter of NFC.


(1) The distribution of specified taxes, duties between federation and
provinces.

(2) The disbursement of grants to provincial governments.

(3) The borrowing powers exercised by federal and provincial
governments.

(4) Any other financial matter referred to commission.


Previously Approved NFC Awards.





NFC Award - 2009


A very important and welcome development was the approval of 7th National Finance Commission (NFC) Award 2009 by all four provincial and the federal governments, reflecting political will to resolve key issues.

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No matter how fast i run or how far i go it wont escape me, pain, misery, emptiness.

hi

Can you kindly tell me regarding 18th amendment and all?

regards,

Sana Rafique

Some salient features of the proposed 18th amendment:


~The set of reforms, known as the "18th Amendment Bill" is expected to be passed by the two-chambered parliament, effectively turning Zardari into a titular head of state.

~ Reportedly the draft of what is to become the 18th Amendment itself includes 95 amendments to the 1973 Constitution. These 95 amendments will effect 70 Articles of the existing Constitutions. There are three “schedules” and one “Annexure” in the draft package.

~In particular, the 18th Amendment will undo the impacts of the 8th Amendment (enacted by Gen. Zia ul Haq) which had altered over 90 Articles of the Constitution, and the 17th Amendment (enacted by Gen. Pervez Musharraf) which had altered 26 Articles of the Constitution.

~The new name of the NWFP is to be Khyber-Pakhtunkwa.

~The draft proposes removal of many past amendments added by military rulers, including the 17th Amendment.

~The draft abolishes the “concurrent list” and gives much more provincial autonomy than is now available to the provinces. The Council of Common Interest has been given additional powers and the provinces have been given more say on national matters by enhancing their representation in the council.

~Reportedly the draft “purges” the name of gen. Zia-ul-Haq as President from the Constitution (it is not yet clear what this means in practice).

~The 27-member parliamentary committee was constituted on June 23 last year to revisit the 1973 Constitution in order to repeal the 17th Amendment and strike a balance of powers between the president and the prime minister, including removal from the Constitution of the controversial clause 58(2)b.

~The original Constitution was passed in the first PPP government, which has also been the architect of the first amendments to it.

~The all-party parliamentary committee has revisited all 278 articles of the Constitution and proposed amendments to about 100 of them.

~A consensus has emerged on reshaping the precincts of provincial autonomy by abolishing all items from the Concurrent List and handing them over to the provinces.

~The bill is likely to be passed by far more than the two-thirds super-majority needed in the parliament because it has been drafted by a parliamentary committee made up of all political groups.

Sources:

http://www.dawn.com/wps/wcm/connect/...t+draft--bi-05
http://www.dawn.com/wps/wcm/connect/...mendment-qs-06
http://pakistaniat.com/2010/04/01/18th-amendment-text/

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No matter how fast i run or how far i go it wont escape me, pain, misery, emptiness.