ISLAMABAD: Adviser to Prime Minister on Finance, Revenue and Economic Affairs, Dr. Abdul Hafeez Shaikh, chaired the meeting of Fiscal Coordination Committee
(FCC), here Saturday.
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 Program. 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. 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 the report for presentation to
the Parliament and Provincial Assemblies.
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 AJ&K attended the meeting.
The Fiscal Coordination Committee, it may be mentioned, 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.
