ISLAMABAD: In a significant move, President Dr. Arif Alvi has reconstituted the National Finance Commission (NFC), an essential body responsible for fiscal resource distribution in Pakistan.
The NFC, comprised of 10 members, will be spearheaded by the federal finance minister, as announced in a notification issued by the Finance Division on Friday.
The National Finance Commission plays a pivotal role in the equitable distribution of financial resources between the federal government and provincial governments. With the reconstitution, the government is signaling its commitment to ensure a fair and just allocation of resources, which is vital for the economic and social development of the country.
The newly appointed chairman of the NFC is the federal finance minister, who will play a central role in the commission’s deliberations and decision-making processes. All provincial finance ministers are nominated as members, reflecting a cooperative approach in managing the nation’s finances.
In a further step toward inclusivity and balanced representation, four distinguished economists have been inducted into the commission to represent the provinces. These economists, with their expertise and insights, will help ensure that the concerns and aspirations of each province are adequately considered during the resource allocation discussions. The following economists have been designated to represent their respective regions:
Dr. Salman Shah: Dr. Salman Shah will represent Punjab, bringing a wealth of economic knowledge and experience to the commission. His insights will be instrumental in advocating for Punjab’s fiscal interests.
Asad Syed: Asad Syed has been appointed to represent Sindh. His expertise will play a crucial role in articulating the financial needs and priorities of the province.
Muhsarraf Rasool Cyan: For Khyber Pakhtunkhwa, Muhsarraf Rasool Cyan will serve as the representative. His contributions will help ensure that the province’s unique requirements are taken into account.
Mahfooz Ali Kha: Mahfooz Ali Kha will represent Balochistan, offering insights into the economic landscape and fiscal requirements of the province.
Additionally, the federal finance secretary will serve as the official expert for the commission, providing technical knowledge and guidance on financial matters.
The reconstitution of the National Finance Commission is a significant development, as it sets the stage for productive and informed discussions on the allocation of financial resources, which in turn will influence the economic and social development of the country’s various regions. The inclusion of economists with regional representation underscores the government’s commitment to transparency and inclusivity in fiscal matters. The NFC’s efforts will be closely watched as it works toward a fair and balanced distribution of resources across Pakistan.