A key NFC meeting has been scheduled for December 4 to review the implementation of IMF conditions and discuss a new financial award. According to reports, the federal government has formally invited all provinces to join the discussion. The session will focus on possible changes to the National Finance Award, which are being reviewed under the IMF’s guidance.
Sources said the IMF’s proposals for revising the NFC Award will be a major part of the agenda. Federal Finance Minister Muhammad Aurangzeb will chair the meeting. The finance ministers of all four provinces are expected to participate, as confirmed in the official notification. Officials believe the IMF will likely support the proposed changes, but the process may take time. If more consultations are needed, the discussions on the new award could continue for six to eight months.
This important NFC meeting comes after an earlier session was postponed. The provinces had requested the delay due to severe floods that affected administrative and financial planning. With the situation now relatively stable, authorities are trying to complete the pending review of the financial award.
The new developments also follow a recent statement from the International Monetary Fund. On Thursday, the IMF highlighted that corruption remains a serious and long-standing issue in Pakistan. It stressed that corruption weakens economic progress and damages public trust in institutions.
In its Governance and Corruption Diagnostic Assessment, the IMF urged the Special Investment Facilitation Council (SIFC) to increase transparency in all its operations. It advised the council to develop clear rules and improve oversight mechanisms. The report also recommended that the SIFC publish its first annual report without delay.
According to the IMF, this report should include all investment deals handled by the SIFC. It must also list any tax or regulatory concessions granted, along with the reasons and financial impact of each decision. The Fund believes that stronger transparency will support better governance and smoother economic reforms.
With these concerns in focus, the upcoming NFC meeting is seen as an important step toward financial restructuring and improved accountability in the country.
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