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7th National Finance Commission Award - A Historic Signing In Gwadar, Balochistan

By Sikander Hayat


7th National Finance Commission Award has been signed into agreement today in the port city of Gwadar, Baluchistan. Punjab and Federal Government have given up some of their share to meet the needs of Baluchistan and NWFP. This is a historic occasion for Pakistan because it is first time that all federating units have reached consensus without any major disagreements. A new formula has been devised to distribute resources among the centre and the federating units. Under the award population will be given 82 per cent weightage, poverty 10.3 per cent, revenue collection five per cent (2.5 per cent revenue generation, 2.5 per cent revenue collection) and area 2.7 per cent.
Under the new NFC Award, the federation met the demand of the provincial governments for a greater share in national resources. The provincial share of the divisible pool would increase from 47.5 per cent to 56 per cent in the first year of NFC and 57.5 per cent in the remaining years of the Award. Under the new formula, Punjab would get 51.74 per cent from the divisible pool, Sindh 24.55 per cent, NWFP 14.62 per cent and Balochistan 9.09 per cent.

In the new award, Punjab has given up 1.27 per cent, Sindh 0.39 per cent and NWFP 0.26 per cent, while Balochistan has gained.
It is significant that the accord was signed in Gwadar because Balochistan is the biggest beneficiary of this new award.
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