The first meeting of the reconstituted National Finance Commission (NFC) will be held in Islamabad today with Finance Minister Asad Umar chairing the meeting.

The meeting will discuss the financial position of the provinces and the centre and will review various recommendations for better distribution of national resources under the new NFC award.

The last NFC award was signed in December 2009 that drastically increased the provincial share from the divisible pool.

The government of Pakistan On January 12 decided to put back together the NFC. Members of the re-formed NFC comprise the incumbent federal minister of finance and his provincial counterparts from Sindh, Balochistan, Khyber Pakhtunkhwa (KP), and Punjab.

In addition to the aforementioned, other members who represent the provinces include Asad Saeed (Sindh), Mehfooz Ali Khan (Balochistan), Musharraf Rasool Cyan (KP), and Dr Salman Shah (Punjab), as well as the federal finance secretary.