Provinces to get Rs 1.3 trillion under NFC Award in 2011-12
ISLAMABAD: The federal government plans to transfer Rs 1,300 billion to the provinces in the next fiscal year, 2011-12, under the 7th National Finance Commission (NFC) Award, official sources informed Daily Times on Tuesday.
There would be a net increase of Rs 300 billion in provincial share in the federal revenues and grants with total transfers of Rs 1.3 trillion in the financial year 2011-12 as against Rs 1.034 trillion provincial share in the federal revenues alone in the outgoing fiscal year 2010-11, said the sources. The provincial share in the NFC Award is going to increase by 1 percent and it would increase from 56 percent in 2010-11 to 57 percent in 2011-12 as per the decision taken by the NFC Commission last year. The layout of the federal budget for the upcoming year 2011-12 has been estimated at Rs 2.4 trillion and the federal and provincial consolidated budget around Rs 3.4 trillion, added the sources.
They said the Annual Plan Coordination Committee (APCC) of the Planning Commission would meet on May 13 to finalise recommendations of the macro-economic framework and development outlay for the fiscal year 2011-12. sajid chaudhry
Source: Daily Times
Date:5/11/2011
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