The federal government has officially constituted the 11th National Finance Commission (NFC) under Article 160 of the Constitution, effectively dissolving the 10th NFC that was formed in July 2020. A notification issued by the Finance Division confirms the changes.
The Federal Minister for Finance will serve as Chairman of the newly formed Commission, while the Finance Ministers of Punjab, Sindh, Khyber Pakhtunkhwa, and Balochistan will act as members.
Additionally, the President has nominated the following provincial representatives:
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Nasir Mahmood Khosa (Punjab)
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Asad Sayeed (Sindh)
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Musharraf Rasool Cyan (Khyber Pakhtunkhwa)
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Farman Ullah (Balochistan)
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The Terms of Reference (ToRs) for the 11th NFC include:
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Recommending distribution of net tax proceeds between the Federation and Provinces as per Article 160(3)
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Advising on federal grants-in-aid to provinces
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Addressing federal and provincial borrowing powers
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Evaluating shared financial responsibilities on matters under provincial or trans-provincial domains
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Discussing financial costs for national projects and joint responsibilities
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Deliberating on any additional finance-related matters referred by the President
The Finance Division will act as the Secretariat of the Commission under the Rules of Business, 1973.
