LAHORE, Oct 20: Punjab expects all the provinces to take their respective positions on the next National Finance Commission Award when the commission meets at Jacobabad for its deliberations.

This was stated by Finance Minister Tariq Hamid while speaking to reporters at the inauguration of a new branch of the PICIC Commercial Bank here on Saturday.

He said the Punjab would finalize its stand on the distribution of federal funds among the provinces under the NFC at a meeting to be held here before the end of this month.

Earlier, the minister said non-availability of working capital had been a major factor in the sickness of industrial units in the past.

He said the development finance institutions had been a great help to the industry for long-term loans but they did not provide the working capital to the industry.

He was happy to note that while the financial sector was shrinking in the country the PICIC had decided to expand its network.