Saturday, March 29, 2025
-Advertisement-

Pakistan Rejects IMF’s Call to Revisit NFC Award

- Advertisement -

According to sources, the Pakistan government has declined the International Monetary Fund’s (IMF) request to revisit the National Finance Commission (NFC) Award.

The IMF, during the second review talks under the $3 billion loan program, urged Islamabad to reconsider the NFC Award with the provinces, citing a shortage of federal funds.

- Advertisement -

Government sources stated that no recommendation against the constitution regarding the NFC Award will be approved. The share of provinces under the NFC Award will not be reduced, although the federation and its units can collaborate on the matter.

Furthermore, sources indicated that the federation will explore alternative methods to increase its income.

Article 160 of the Constitution empowers the president to approve the distribution of revenues between the federation and the provinces through an NFC Award order.

While the 2010 NFC award was initially agreed upon for five years, there has been no consensus to revisit it since then.

- Advertisement -

The IMF delegation is presently in Pakistan for the second review under the SBA loan program, with approval from the IMF potentially unlocking a $1.1 billion loan tranche for Pakistan.

- Advertisement -

Stay updated with the latest and breaking news directly on your mobile phone by joining Headline PK's WhatsApp group!

 

 

Zubair Yaqoob
Zubair Yaqoob
Zubair Yaqoob is a senior anchor, and an investigative journalist with an impressive 37 years of experience. Zubair's journalistic journey has been marked by a relentless pursuit of truth and a commitment to delivering impactful stories.Zubair's expertise extends beyond borders, reaching as far as Malaysia, where he has left an indelible mark on the international journalism landscape. His global perspective and keen analytical skills have allowed him to navigate diverse cultural landscapes, bringing a unique and enriching perspective to his reporting.Whether he's in the studio or on the field, Zubair continues to be a driving force in the world of journalism, bridging gaps, fostering understanding, and unraveling the stories that matter most. As the Headline PK Author, Zubair remains at the forefront of news, guiding audiences through the complexities of our ever-evolving world.

Latest stories

-Advertisement-

Highlights of the Week
Related

Kineto: K-Electric Becomes Pakistan’s First Power Utility to launch Generative AI Chatbot To Enhance Customer Experience

In another step towards achieving greater innovation and customer-centric...

Bangladesh Deputy High Commission in Karachi Observes its National Day, Promotes Bilateral Ties

Bangladesh and Pakistan have been working for wider and...

Karachi Inter Students to Get Grace Marks

A parliamentary committee of the Sindh Assembly has decided...

Sindh Govt Records 37% Growth in Revenue Collection, Reaches Rs312 Billion

Sindh revenue collection has reached Rs312 billion in the...
-Advertisement-
Join our Whatsapp Group for Exclusive News!
Join our Whatsapp Group for Exclusive News!