ISLAMABAD – Fiscal Coordination Committee (FCC) here on Saturday approvedthe incentive grant for provinces as proposed by the sub-committee with thedirection that further refinement, if required, may be made in theprocedures or process in consultation with the provinces.
The FCC met here with Adviser to Prime Minister on Finance, Revenue andEconomic Affairs, Dr. Abdul Hafeez Shaikh considered the recommendations ofthe FCC Sub-Committee on Public Finance Management Reforms on incentivegrant system to provinces under Performance for Results Program.
The federal government will provide grants to provinces, through theincentive grant system, subject to fulfillment of certain baselines in thepublic finance management and social sector developments, especially inhealth and education sectors.
The meeting also reviewed the bi-annual implementation of the NationalFinance Commission Award for the period January-June, 2018 and approved thereport for presentation to the Parliament and Provincial Assemblies.
Chief Minister of Sindh, Finance Ministers of Punjab, Khyber Pakhtunkhwa,Balochistan, senior officials of the Ministry of Finance and FinanceDepartments of the provinces and the AJ&K attended the meeting.
The Fiscal Coordination Committee, it may be mentioned, is a forumconstituted by the Council of Common Interests for the purpose of ensuringcooperation and coordination among the federating units on fiscal matters.