Provincial Finance Commission (PFC) Chairman/Punjab Minister for Finance Hasnain Bahadur Dreshak has stressed upon members of the Commission to speedily evolve a formula for distribution of available funds among provincial and local governments.
He was chairing a meeting of PFC here on Tuesday, disclosed an official. The meeting was also attended by Chief Secretary/Secretary Finance Salman Siddique, Secretary Local Government Akhlaq Ahmad Tarar, Special Secretary Finance Tariq Bajwa besides private members including, Javed Masood, Professor Imran Ali and Shahzad Hussain.
Three members from the local government institutions including District Nazim Multan Faisal Mukhtar, Tehsil Nazim Sambrial Muhammad Nasar Khan Ghuman and Union Nazim Shakrial (Rawalpindi) Muhammad Safdar also attended the meeting.
He said that six months of the fiscal year have already passed and there was an immense need to decide the formula.
The members were briefed about 10 principal points to evolve a formula for horizontal distribution of available funds. The members were assured that government would definitely increase the budget for the development purpose, which was to the tune of 40pc of the total resources last year. The next meeting of the commission would be convened on January 17 at Civil Secretariat and issues relating to distribution of funds would be discussed.
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