Rejuvenated F1 Veteran Schumi Impresses
February 2, 2010 by Trend PK
Filed under World News
TrendPK.com Rejuvenated F1 Veteran Schumi Impresses:German Formula One legend Michael Schumacher admitted he felt like a kid with a new toy as he took his Mercedes car out for the first time here on Monday ahead of his official return to the sport after a three-year absence.
Dozens of fans, [...]
Tarin Reveals Agreed NFC Formula
December 11, 2009 by Trend PK
Filed under Breaking News
LAHORE, Pakistan News: The government formally announced the National Finance Commission (NFC) Award after long-drawn-out negotiations that continued for three days.
Addressing a news conference here, Federal Finance Minister Shaukat Tarin revealed the draft for inter-provincial sharing of funds on while chief ministers of all the four provinces have agreed upon.
Tarin said the 56 pc would be distributed among the provinces from divisible pool. He said the federation would now enhance its resources besides slashing expenses.
He said 82 pc distribution of the resources would be done on the basis of population.
Tarin said Sindh would get 6 billion rupees from the share of federal government, adding that Balochistan would get 9 pc of the share and that it would get 83 billion rupees in the wake of special needs.
It has been agreed that provinces would collect the tax from now, he said. “Services of tax is a provincial matter and the provinces would decide it now their self.”
Earlier, Chief Minster Punjab Mian Shahbaz Sharif on the occasion said that the four provinces had agreed over the news formula, adding that “After restoration of the judiciary in Pakistan, it is second gift for the nation.”
For the past two decades distribution of national resources had been carried out under a single point population based formula. The new award, however, will employ multiple criteria, including inverse population density and poverty.
The 7th NFC Award meeting came to an end that continued for three days under the chairmanship of Shaukat Tarin.
On Thursday, the provinces failed to firm up the formula for inter-provincial (horizontal) distribution of funds from the federal divisible pool even after long-drawn-out negotiations that continued till late in the night on the second day of the NFC meeting.
The differences between Punjab and Sindh on revenue were blamed for the delay in the finalisation of the formula.
Reportedly, the intervention of the chief ministers, especially of Punjab and Sindh, had helped negotiators make significant progress and prevent a deadlock between the federating units.
Tarin Reveals Agreed NFC Formula was first posted on December 11, 2009 at 9:43 pm.
PM Gilani reshuffles cabinet, changes portfolios of 3 ministers
Lahore, Pakistan News :- Prime Minister Yousaf Raza Gilani on Thursday has reshuffled the cabinet while changing the portfolios of three ministers and six secretaries.
Mir Ejaz Hussain Jakhrani has been appointed Minister for Sports and Makhdoom Shahabuddin has been appointed Minister for Health while Pir Aftab Shah Jilani has been appointed Minister of Inter-Provincial Coordination.
PM Gilani has appointed Tariq Iqbal Puri as Secretary Labor, Javed Akhtar as Secretary Minorities, Inamullah Khan Toori appointed as Secretary Federal Tax Ombudsman, Mohammad Saleem as Secretary Investment, Ghazanfar Hussain as Secretary Local Government and Aziz Ahmed as Executive Director NAVTEC while Athar Tahir has been appointed as Secretary Social Welfare.
PM Gilani reshuffles cabinet, changes portfolios of 3 ministers was first posted on December 10, 2009 at 9:08 pm.
NFC Award, Revenue-sharing to be included
LAHORE, Pakistan news The four provinces have agreed to include revenue-sharing in the National Financial Committee Award, said sources at the meeting of the chief ministers at Lahore Thursday.
It was the second and the last day of the meeting. The provinces initially had problems related to the hydel power project and revenue generation. In order to address these problems, the four chief ministers reached Lahore. They talked to the Federal Minister of Finance, Shaukat Tareen for two and a half hours, during which they agreed to incorporate the multiple formula of revenue generation in the award.
The Finance Minister of Punjab, Tanvir Ashraf Kaira said that according to the formula, Punjab will now get more resources than before.
NFC Award, Revenue-sharing to be included was first posted on December 10, 2009 at 9:41 pm.
