No concrete objections against NFC Award received, says Asad Umar

LAHORE (92 News) – Finance Minister Asad Umar has said that the dialogues on the National Finance Commission (NFC) Award had been welcoming and no concrete objections were received from any province in this regard. Talking to the media after a meeting of the 9th National Finance Commission Award on Friday, he declared the share of the provinces in the 9th National Finance Commission would not be reduced. “Bilawal’s talk about non-issuance of funds from the Federation is a political objection. The current account deficit has been reduced to US$ 395 million from US$2 billion,” he claimed. He dismissed the reports about the imposition of tax on transferring Rs 25,000 are a white lie. “The formation of the NFC Award is not linked to the dialogues with the International Monetary Fund (IMF),” he said. The minister said that the next budget will be prepared as per last year’s NFC Award. Sources said that provinces had objected to the performance of the FBR. “Provinces have refused to give their share for the FATA and asked the government to make an estimate of the resources needed for the FATA,” they added. About the services, the provinces were of the view that provinces had performed the GST recovery in a better way. They also demanded that the GST recovery on goods should be handed over to provinces. The provinces are of the view that federal bureaucracy is creating hurdles in the shares of the provincial governments. However, the provincial finance minister of Balochistan and Sindh did not participate in the meeting. Sindh Chief Minister Syed Murad Ali Shah holds the portfolio of the Finance Ministry. However, the provincial secretaries of both provinces were present in the meeting. The FBR chairman was also present in the meeting.