- Subject
- PAST PAPERSpast-papers
- Published
- 16 Feb 2025
- Last updated
- 28 May 2026
In which year was the 7th National Finance Commission (NFC) Award officially signed?
Multiple choice question for PAST PAPERS. Select an option, then review the explanation below.
Explanation
The 7th NFC Award was formally signed on December 30, 2009, and came into effect on July 1, 2010. This award, endorsed by President Asif Ali Zardari, marked a significant milestone by breaking a long-standing deadlock in announcing NFC awards. It introduced the multiple indicator criteria (MIC) for revenue sharing, moving beyond population as the only factor. Revenue distribution was based on performance, with Punjab receiving the highest share, followed by Sindh, Khyber Pakhtunkhwa, and Balochistan. The Federal and Provincial Finance Ministers review the award's implementation biennially and report their findings to Parliament and Provincial Assemblies.
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