ISLAMABAD, June 17: Minister for Finance and Revenue Syed Naveed Qamar told the Senate on Tuesday that new National Finance Commission (NFC) Award would be constituted soon after the passage of the 2008-09 budget.

He made this announcement during his budget winding up speech in the upper house.

He said that nominations from two provinces had been received and the rest would be received soon after which the award would be constituted.

The minister said the federal government believed that it was not through grants and charity from the federation to the federating units but the provinces had the right on their own resources.

“They have the capacity to generate their own funds through their own resources,” he said. He said that macro-economic stability was a must for economic growth and proper economic direction.

About the Benazir Income Support Programme, he said: “We have tried to keep this scheme as transparent as possible. We are going to make sure that all elements of human selection in the process should be eliminated.”—APP