FCC reviews recommendations on 'public finance management reforms'
The meeting also reviewed the bi-annual implementation of the NFC Award for Jan-Jun 2018.
(Web Desk) – Adviser to Prime Minister (PM) on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh chaired the meeting of the Fiscal Coordination Committee (FCC).
The meeting considered the recommendations of the FCC sub-committee on ‘public finance management reforms’ on incentive grant system to provinces under performance for results programme.
The committee approved the incentive grant for provinces as proposed by the sub-committee with the direction that further refinement, if required, may be made in the procedures/process in consultation with the provinces.
The federal government will provide grants to provinces, through the incentive grant system, subject to fulfillment of certain baselines in the public finance management and social sector developments, especially in health and education sectors.
The meeting also reviewed the bi-annual implementation of the NFC Award for the period January-June, 2018, and approved a report for presentation to the parliament and provincial assemblies.
The chief minister of Sindh, finance ministers of Punjab, Khyber Pakhtunkhwa, Balochistan, senior officials of the ministry of finance and finance departments of the provinces and the AJK also attended the meeting.
The FCC is a forum constituted by the Council of Common Interests for the purpose of ensuring cooperation and coordination among the federating units on fiscal matters.
