Hafeez Shaikh ousted from National Finance Commission

News Image

MG News | July 22, 2020 at 01:30 PM GMT+05:00

0:00

July 22, 2020 (MLN): Federal government on Wednesday has removed Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh from National Finance Commission (NFC).

According to details, a new notification on the establishment of NFC has been submitted in the Islamabad High Court (IHC) by the attorney general.

Moreover, the plea of Pakistan Muslim League-Nawaz (PML-N) leader Khurrum Dastgir against NFC formation has been wrapped up.

Earlier on May 19, 2020, PML-N had challenged the formation of the 10th National Finance Commission in the Islamabad High Court.

The petition stated that the responsibility of equitable distribution of financial resources between the federation and provinces lies with the NFC. According to the Finance Division notification, the President of Pakistan constituted an 11-member commission on April 23.

According to PML-N’s petition, it was necessary to consult with the governors before including a finance adviser and a finance secretary but the notification did not mention any talk with any provincial governor.

Related News

Name Price/Vol %Chg/NChg
KSE100 172,400.73
346.40M
0.92%
1570.51
ALLSHR 103,483.96
796.97M
0.55%
561.58
KSE30 52,734.06
184.56M
1.08%
564.57
KMI30 245,565.33
110.97M
1.07%
2605.02
KMIALLSHR 67,233.70
319.67M
0.68%
453.28
BKTi 47,898.10
95.85M
0.98%
462.51
OGTi 33,838.49
13.78M
1.39%
464.88
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 87,825.00 90,115.00
86,915.00
75.00
0.09%
BRENT CRUDE 60.80 62.67
60.56
-1.44
-2.31%
RICHARDS BAY COAL MONTHLY 87.50 0.00
0.00
1.05
1.21%
ROTTERDAM COAL MONTHLY 94.50 0.00
0.00
-0.70
-0.74%
USD RBD PALM OLEIN 1,027.50 1,027.50
1,027.50
0.00
0.00%
CRUDE OIL - WTI 56.93 58.88
56.65
-1.42
-2.43%
SUGAR #11 WORLD 15.17 15.28
15.08
-0.12
-0.78%

Chart of the Day


Latest News
December 28, 2025 at 01:30 AM GMT+05:00

Weekly Market Roundup


December 27, 2025 at 04:08 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


December 27, 2025 at 03:10 PM GMT+05:00

Money supply reaches over Rs45tr as of November


December 27, 2025 at 03:09 PM GMT+05:00

SBP reserves rise $16bn in a week


December 27, 2025 at 02:38 PM GMT+05:00

SBP rolls out new climate stress testing guidelines



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg