August 16, 2026
Chief Minister Sohail Afridi says the province neither approved nor agreed to a Rs6.4 billion deduction proposed by the Finance Ministry, and that a pre-budget federal request for additional funds was made conditional on his being allowed to meet Imran Khan.
August 1, 2026
Prime Minister Shehbaz Sharif has set up a high-level committee to review the World Bank's report on fiscal federalism, telling a visiting delegation that provincial autonomy and federation-province consultation are of fundamental importance. He said the government is vigorously pursuing its reforms agenda.
June 19, 2026
After five deferrals, the PTI government tabled a full-year, balanced budget on June 19 — no new taxes, a 7 percent pay raise and over Rs235bn for development — but said approval of the federal-grant portion would await the jailed party founder's sign-off.
A money changer measures out Pakistani currency in a market in Karachi. — AFP/File The ministry says NFC stocks were released to the provinces every fortnight. The KP stake was determined under the seventh NFC award: finance ministry. Center for financing the expenses of the newly merged regions: ministry. The finance ministry on Saturday clarified that the federal government had no outstanding obligations under the National Finance Commission (NFC) to the provinces, saying the provincial NFC shares were being released on a fortnightly basis. The clarification comes in the wake of allegations by Khyber Pakhtunkhwa (KP) Chief Minister Sohail Afridi
Finance Minister Muhammad Aurangzeb in a group photo with representatives of all four provinces ahead of the 11th NFC meeting in Islamabad on December 4, 2025. — Geo News Sindh, KP CMs participated in the meeting as provincial finance ministers. KP CM’s adviser on Finance Muzzammil Aslam also participated in the meeting. 8th, 9th, 10th National Economic Commission ended without award. ISLAMABAD: The 11th meeting of the National Finance Commission (NFC) in Islamabad concluded on Thursday with the decision to form six to seven working groups to take forward discussions on fiscal issues. The maiden NFC meeting, chaired by Finance
Islamabad: The National Finance Committee Award (NFC), which provides the constitutional framework for the distribution of federal government tax revenue in the provinces for the management of their annual expenses, is in the news today. The distributions are made of a predetermined divisor group of taxes and duties collected and collected by the federal government. In this respect, accusing the current share (42.5%) of the federal government in the press on the ever -increasing debt trap was a popular issue among many in the federal elite. They want to grow. This suggests that the provinces go beyond. However, the growing
A worker pulls a trolley loaded with supplies to deliver to a nearby market on Karachi on May 24 2023. – Reuters The government eventually gathered the 11th National Finance Committee to reach a new NFC award to replace the 7th NFC prize, which was agreed in May 2010. The NFC award is supposed to last only five years, but until a new prize is agreed, the old prize continues. The 7th NFC Award, one of the most structurally damaging awards in Pakistan’s federal fiscal health, lasted 15 years. It would be tax weakening for Pakistan if this committee does
Sindh Chief Minister Syed Murat Ali Shah in this undated photo. — APP/File Certain ministries devolved under the 18th Amendment: Sindh CM. It is suggested that the surplus electricity should be used for industrial units. Sindh government to launch new energy policy soon, says chief minister. Sindh Chief Minister Syed Murad Ali Shah said that neither the federal government nor the International Monetary Fund (IMF) had approached him about concerns over the National Finance Commission (NFC) Award or the 18th Amendment. CM Shah said that the federal government has started implementing the 18th constitutional amendment by devolving or liquidating some
Finance Minister Muhammad Aurangzeb speaks during an interview in Islamabad on July 19, 2024. — Reuters The Pact focuses on the unified fiscal network between the Centre, provinces. The finance minister describes the agreement as a “step in the right direction”. Movement aimed at increasing tax revenues from the agricultural sector. ISLAMABAD: Finance Minister Muhammad Aurangzeb has said that there will be no immediate change in the National Finance Commission (NFC) regarding the financial agreement between the federal and provincial governments, The News reported on Thursday. “In the first stage, there will be no changes in the NFC award at
Islamabad: Fiscal policy in Pakistan is usually far from a fine balancing act and is more of a reckless feat. It has long been characterized by a contentious debate between austerity measures and stimulus measures – with the government oscillating between these two approaches, often recklessly. Thanks to these policies, the past three years have been marked by high interest rates – a result of the State Bank of Pakistan’s (SBP) battle with inflation that has crushed the real estate market and pushed up unemployment numbers. But why Pakistan’s policy rate should be as high as 22% for so long
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October 26, 2026
The Pakistan Daily
October 26, 2026
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