ISLAMABAD: The second meeting of 8th National Finance Commission (NFC) was held on Monday under the chairmanship of Finance Minister, Dr Abdul Hafeez Shaikh in Islamabad, which discussed draft report on the bi-annual monitoring on the implementation of NFC Award from July-December 2011.

The meeting at length discussed the GST on services with reference to the position of final distribution of divisible pool.

After getting different proposals from the federating units, the Finance Minister directed that the 80 per cent collection made up to December 2011 be distributed among the provinces on temporary basis, the provinces unanimously agreed over this decision by the Finance Minister.

The other items that came into discussion were Excise Duty on Natural Gas and royalty to the provinces on natural resources and One per cent of Income Tax on account of IT paid out of the federal consolidated fund.

While discussion on Gas Development Surcharge the Secretary Petroleum assured the provinces that he can make arrangements for the provinces to check themselves on production in the oil fields in the country.

This assurance was made by the Secretary in response to certain reservations expressed by some provinces on the authenticity of the data on production of oil and gas in the country.

The meeting, among other members was attended by  Mr Abdul Ghafoor Mirza Punjab, Mr Kaiser Bengali Sindh, Senator Haji Muhammad Adeel Khyber Pakhtoonkhawa , Sheikh Jaffar Khan Mandokhail Balochistan, the Provincial Finance Ministers and respective Finance Secretaries, Chairman FBR, Secretary Finance, Advisor to Finance Ministry and other senior officials of Finance Ministry FBR, and NFC Secretariat.