Finance Minister, Asad Umar received the visiting Vice President, Asian Development Bank (ADB), Wencai Zhang for a meeting here Thursday.

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Finance Minister, Asad Umar received the visiting Vice President, Asian Development Bank (ADB), Wencai Zhang for a meeting here Thursday.

They had a brief review of the ongoing and prospective ADB assisted projects in Pakistan.

The Finance Minister on the occasion said that the present Government has embarked upon a journey of structural reforms with particular emphasis on the energy structure. He spelled out the priority areas of the PTI Government which include job creation, competitiveness of the export sector through industrial development, skill development and promotion of the SME and IT sectors. He also emphasized development of the tourism and hospitality sectors in Pakistan. He welcomed offer made by the ADB to support capacity development in various govt. institutions including Ministry of Finance through technical assistance.

Mr. Wencai Chang said that ADB and Pakistan have together successfully met many development challenges. ADB, he said is committed to expanding this partnership to increase prosperity of the people of Pakistan. He assured the Minister of the support from the Bank in the priority sectors as identified by the present government.

Secretary, Economic Affairs Division and members of the visiting ADB delegation attended the meeting.

Finance Ministry seeks early nominations of NFC members from provinces

The Finance Ministry has called upon provincial governments to reconfirm their nominations of non-statutory members for National Finance Commission as early as possible.

It may be recalled that Finance Minister Asad Umar had addressed letters to the provincial Chief Ministers on September 3, 2018 asking them to either re-confirm the nominations made by the previous governments or make fresh nominations so that the process for reconstitution of 9th NFC could be completed. The Ministry of Finance has now reminded the provincial finance secretaries to make the requisite nominations, as so far none of the provincial governments have shared the names of their respective non-statutory members.

In terms of Clause (1) of article 160 of the Constitution, the 9th National Finance Commission (NFC) was constituted on 24thApril, 2015. Since new governments are in place both at Federal and Provincial levels after general elections 2018, re-confirmation of the non-statutory members from the provinces is necessary.

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