| GEO Business | | NFC meeting likely to announce resource distribution formula today | Updated at: 1005 PST, Thursday, November 19, 2009
 KARACHI: A two-day meeting of NFC will continue today here in a local hotel. Finance Minister Shaukat Tarin will preside the meeting which likely evolve the vertical formula for resource sharing among the center and provinces.
The sources said formula has already driven in yesterday’s meeting but formal announcement will be made today. According to new formula, provinces share will likely increase from 45 to 55 percent whereas reduction in center’s share is expected from 55 percent to 45. The provinces demanded increment from 60 to 80 percent.
All four chief ministers along with their respective finance ministers are attending the meeting besides private members from the provinces including Mirza Abdul Ghafoor from Punjab, Qaisar Bangali from Sindh, Haji Adeel from NWFP and Dr Gulfraz from Balochistan.
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