NFC meaning in Governmental ?

Answer: What is National Finance Commission mean?

The National Finance Commission Award or NFC is a series of planned economic programs in Pakistan enacted since 1951. Constituted under the Article 160 of the Constitution, the program was emerged to take control of financial imbalances and equally managed the financial resources to four provinces to meet their expenditure liabilities while alleviating the horizontal fiscal imbalances. As per Constitution, the program awards the designs of financial formulas of economic distribution to provincial and federal government for five consecutive years. All together, a total of seven awards has been reimbursed since its emergence in 1951, by Prime Minister Liaquat Ali Khan. Stipulations and directions mentioned by the Constitution, the provisional governments and federal government competes to get higher share of the program's revenues in order to stabilize their own financial status.

Intergovernmental transfer of economic resources is chaired by the President of Pakistan whose constitutional purpose is to supervise the system of fiscal transfer to correct the vertical fiscal imbalance between provincial and federal government, and horizontal fiscal imbalances between four provinces. Government financial specialists, mathematicians, and economists studied the mathematical and statistical aspects of the program before recommending the government to enact the program. Due to the program producing a political realignment and the constitutional stipulation regarded a unanimous political concession between four provinces, the program has fever conclusive results, and only seven awards has been enacted since its emergence in 1951.

In 2010, after series of reaching the concession and public debates successfully concluded the enactment of conclusive seventh award by the program, which affected the distribution formula. In a statement released by Finance Minister Shaukat Tarin, the inverse population density, and the derivative poverty rate has become a new parametric factor in calculating the program's awards.

reference

Full Form	Category
National Folklore Collection (Republic of Ireland)	Academic & Science
Nuclear Fuel Complex	Academic & Science
North Florida College	Academic & Science
National Finance Center	Academic & Science
Non-Fiber Carbohydrate	Animal Kingdom
Norwegian Forest Cat	Animal Kingdom
National Food Corporation	Business
Next Fifteen	Business
Northern Financial Corporation	Business
Neighborhood Finance Corporation	Business
Numismatic Financial Corporation	Business
Nordic Fuzz Con	Community
Nirvana Fan Club	Community
Netflow Collector	Computing
Norton File Compare	Computing
Network Flow Connections	Computing
National Field Champion	General
Near Field Communications	General
Nobody F Cares	General
Not from Concentrate	General
Not Fully Comprehended	General
Natural Fruit Concentrate	General
Not Factory Cut	General
National Fantasy Championships	General
Normalized Fuel Cost	General
Nascar Fan Council	General
Nissan Forklift Corporation	General
Nitro Funny Car	General
Nostalgia Funny Car	General
National Firebird Club	General
North Florida Chevelles	General
National Freight Consortium	General
Ngawi Fiat Club	General
Nissan Figaro Car Club	General
New Fortuner Club	General
No Future Club	General
No Fat Chicks	General
No Frelling Clan	General
No Favored Champion	General
No Friggin Clue	General
No F Clue	General
No Freaking Chance	General
Non Fiber Carbohydrates	General
No Fukkin Crackers	General
Notta Fukin Chance	General
No Fricking Chance	General
National Finance Commission	Governmental
National Fire Code (Canada)	Governmental
Not For Commerce	Governmental
Now For Commerce	Governmental
National Fertilizer Corporation	Governmental
Near field communication	Information Technology
Nobody F***ing Cares	Internet
Normalization Form C	Maths
New Fracture Clinic	Medical
Need For Cognition	Medical
Need For Closure	Medical
No Further Comment	Messaging
News First Class	News & Entertainment
National Fire Code of Canada	Regional
New Friends Colony	Regional
National Football Conference	Sports
Never Fear Competition	Sports
Next Football Champion	Sports
National Fitness Campaign	Sports
National Football Confernce	Sports
National Football Centre	Sports & Games
National Flight Centre	Transport & Travel