Next NFC award to be announced after developing consensus with provinces: Dar
Finance Minister says debt to GDP ratio would be reduced to 50pc during next 15 years.
Finance Minister Ishaq Dar says the current National Finance Commission award would remain intact until the announcement of the next award.
He was explaining reasons behind delay in the announcement of next NFC award while winding up budget debate in the National Assembly on Tuesday evening.
Ishaq Dar said the government wants to allocate three per cent each out of the gross divisible pool to meet expenses for additional security and FATA, Gilgit-Baltistan and Azad Kashmir.
He said proposals needed consensus from the provinces and the next award would be announced as soon as the consensus developed in this regard.
Clarifying the misconceptions about the public debt, the Finance Minister said that the foreign debt which was 48.1 billion dollars in 2013 stands at 58.4 billion dollars now.
He said according to a transition plan, the debt to GDP ratio would be reduced to 50 per cent during next fifteen years.
The Finance Minister again invited the Opposition to agree on a Charter of Economy in consultation with all stakeholders to ensure economic stability in the country.