The World Bank has urged Pakistan to reduce unnecessary federal spending and reform the distribution of financial resources between the federation and provinces. World Bank Country Director Bolormaa Amgaabazar said a new National Finance Commission (NFC) Award is essential to strengthen the country’s fiscal framework. She stressed that fair resource allocation and stronger tax collection […]
NFC Award
World Bank urges Pakistan to revise NFC Award
The World Bank has recommended that Pakistan revise the National Finance Commission (NFC) Award formula to improve fiscal federalism, strengthen revenue collection and ensure a more equitable distribution of resources among the provinces. The recommendations were presented in the World Bank’s report, Strengthening Fiscal Federalism in Pakistan, launched by lead economist Tobias Haque and Country […]
Opposition backs Sindh on NFC, water rights issues
Karachi: Opposition Leader of Tehreek Tahaffuz-i-Ayeen Pakistan (TTAP) have voiced support for Sindh position on key federal-provincial issues, rejecting any proposed changes to the National Finance Commission (NFC) Award and warning against projects they say could affect the province’s water rights. The remarks were made during a joint press conference at the Karachi Press Club […]
Bilawal rules out further provincial sacrifices beyond defence
Pakistan Peoples Party Chairman Bilawal Bhutto Zardari said the federal government and provinces had reached a consensus to share the burden of extraordinary national requirements, particularly defence-related needs. Addressing the National Assembly during the budget session, he stressed that the arrangement would remain limited to a three-year framework and that no additional financial sacrifices would […]
Khawaja Asif sees stronger economic recovery
Defence Minister Khawaja Asif said Pakistan’s economy has emerged from a critical phase and regained stability. Speaking in the National Assembly, he credited reforms and IMF-backed measures for the improvement. His remarks matter because economic recovery directly affects businesses, investors, and millions of Pakistanis. Addressing lawmakers during the budget debate, Asif said Pakistan once faced […]
Punjab to unveil Rs5.3 trillion budget today
The Punjab government is set to present its budget for the fiscal year 2026-27 today, with a proposed outlay exceeding Rs5.3 trillion and no new taxes expected to be imposed on citizens. The budget will be presented during the 43rd session of the Punjab Assembly by Provincial Finance Minister Mian Mujtaba Shuja-ur-Rehman. Alongside the annual […]
Government, PPP reach budget agreement ahead of new fiscal year
The federal government and the Pakistan Peoples Party (PPP) have reached a key financial understanding ahead of the 2026-27 budget, paving the way for consensus on fiscal matters and easing concerns over resource distribution between the federation and provinces. According to sources, negotiations between the government’s technical committee and the PPP concluded successfully during a […]
KP announces pen-down strike against Centre
The Khyber Pakhtunkhwa (KP) government has announced a province-wide pen-down strike for Wednesday in protest against what it describes as unfair treatment by the federal government. According to provincial authorities, the strike is being organised to highlight concerns over alleged discriminatory policies affecting Khyber Pakhtunkhwa in key financial and administrative matters. Read More: Government employees […]
Pakistan to enter 2026 as world’s fifth-most populous country
Pakistan will enter 2026 as the world’s fifth-most populous country, with its population crossing 225 million, according to the United Nations Population Fund (UNFPA). The agency said the milestone highlights the growing urgency of addressing population dynamics amid high fertility rates, gender inequality and increasing climate vulnerability. Read More: Pakistan Population Summit Highlights Urgent Growth Challenges […]
KP aide calls federal funds figures misleading
PESHAWAR: Special Assistant to the Chief Minister for Information and Public Relations, Shafi Jan, on Sunday claimed that federal government figures on transfers to provinces were misleading, as major financial dues of Khyber Pakhtunkhwa (KP) remain unpaid. He said the federal government owes KP nearly Rs4 trillion, including delayed royalties on hydropower and unaccounted windfall […]