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Lahore:ABreaking News four provinces have reached a consensus on the 7th National Finance Commission (FC) Award here on Friday.

This decision was taken at a meeting attended by the Prime Ministers of the four provinces.
The issue of NFC Award has been long standing for 19 years and which has not yet been resolved with the consensus, and approach to accommodate of theprovinces.

However, the Union made a historic sacrifices on the division of national resources among the provinces. Union raised the provinces share by 8.5 percent.

In a joint press conference here today the Prime Minister House, Federal Finance Minister Shaukat Tarin, the prime minister said the four Union may raise the share of provinces in the divisible pool from 47.5 percent to 56 percent.

Resources will be distributed in accordance with the new version to be made from the next fiscal year. The distribution will be made on the basis of standards – a multi – population (82%); poverty and underdevelopment (10.6 percent) and; income and other factors will form the rest of the percentage.

Punjab will get 51.74 percent of the total share of 56 percent of the divisible pool; Sindh 24.24 percent, and 14.6 in the North West Frontier Province; Balochistan will receive a 9 percent share of theprovinces.

Rs83 billion Balochistan will be given to people with special needs, while the Federal Government will meet all the expenses of the ongoing war against terrorism.

Shaukat Tareen said on the occasion of the sales tax is the question of the province, so it will tax the provinces in this regard their own discretion.