Consensus on resource distribution formula: Tarin

KARACHI: Federal Minister for Finance Shaukat Tarin Thursday said that the provinces have reached an agreement on a four-pronged formula for distribution of National Finance Commission (NFC) Award.

Briefing the media after NFC meeting here, the Finance Minister said the formula for resource distribution is based on population, backwardness and revenue and not entirely on population.

He said the Punjab province, exhibiting flexibility, agreed on a multi-pronged formula for resource distribution. Density of population, poverty and backwardness will be made the deciding factors for the next NFC Award, the Minister said.

Shaukat Tarin said that decision on individual percentages will be made later o