The increased provincial share out of NFC Award in the fiscal budget 2007-08 would help promote inter-provincial harmony, said Federal Minister for Inter Provincial Coordination (IPC) Salim Saifullah Khan.
Expressing his views over the provincial share out of NFC Award here on Monday the minister said provincial share in NFC Award would be raised to 46 percent, which stands at Rs 497 billion in 2007-08. The provinces will get a share of 50 percent from a divisible pool under NFC Award by 2010-11, if subvention is added, he added.
He said it is a part of the government endeavours to bring a solid cohesion among its federating units by uniform development plans. The minister for IPC said this huge amount would definitely improve the economic stability of the provinces and encourage them to take further steps for progress and prosperity of their inhabitants.
"The strength of their financial position can be judged from the fact that now they are returning back federal loans, taken for the development purposes, on their priority," he added. Saifullah said so far they have returned back a hefty amount of Rs 100 billion. The minister said that the current budget is a great achievement of the government, which reflects its commitment to bring fast track progress by uplifting the financial position of the people. He informed that the upcoming meeting of Inter Provincial Coordination Committee (IPCC) would be held in Quetta soon where the issues relating to provinces would be sorted out through mutual decisions.