ISLAMABAD: President Dr Arif Alvi reconstituted a 10-member National Finance Commission (NFC) and named Finance Minister Asad Umar as chairman of the commission.
The President house issued a notification on Friday, the NFC will comprise the federal finance minister as its chairman and four provincial finance ministers as members.
Four members from the provinces were also named as non-statutory members to the NFC, including Dr Salman Shah from Punjab, Asad Syed from Sindh, Musharraf Rasool from Khyber Pakhtunkhwa and Mahfooz Ali Khan from Balochistan.
Secretary Finance will also be members of the commission.
Under the constitution, the president has to announce a new NFC after every five years. Article 160(1) of the 1973 Constitution prescribes the constitution of NFC at intervals not exceeding five years.