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The outlook for a consensus on the 11th National Finance Commission (NFC) award currently appears murky within set timelines, both in cases of vertical and horizontal resource distribution as well as sharing of expenditures among the stakeholders.
So far, the working groups, according to a media report, have made limited progress, which, as per the report, makes it difficult for the consolidation of their recommendations within the time frame. The commission was due to meet in January.
Despite the tough challenges they face, it is incumbent on all stakeholders to join hands to achieve a consensus on the new NFC award, upholding the rights of the federating units.
No doubt, the eight working groups set up by the federal government include issues with no easy solutions. They will recommend the percentage of resources to be distributed between the centre and the four provinces, the vertical transfers, national debt composition and its utilisation, and the inclusion or exclusion of certain taxes in the divisible pool.
