Summary Finance Minister Asad Umar on Wednesday chaired a meeting of Fiscal Coordination Committee.
ISLAMABAD (APP) - Finance Minister Asad Umar on Wednesday chaired a meeting of Fiscal Coordination Committee (FCC) here and reviewed the bi-annual implementation of the NFC Award for the period July-December 2016, January-June 2017 and July-December 2017.
The meeting approved the reports for presentation to the Parliament and provincial assemblies. Chief Minister of Sindh, finance ministers and /senior officials of Punjab, Khyber Pakhtunkhwa and Baluchistan attended the meeting.
The meeting was briefed by the Ministry of Finance regarding the fiscal consolidation program of the Federal Government.
Provincial finance ministers assured the federal government of their full support for the fiscal consolidation efforts as it was need of the hour. The governor, State Bank of Pakistan was assigned the task to chalk-out a simplified procedure in that regard.
Matters relating to provincial surpluses were also discussed. The provincial governments expressed their support and cooperation in this realm.
The meeting also reviewed the Federal Government Public Financial Management (PFM) Program which was being run with the help of the World Bank.
It was agreed to constitute a sub-committee and technical committees to review various actionable items in the PFM Program.
It was also agreed that provincial governments would provide names of their representatives for the sub-committee as well as technical committees.
