Interim fix for delayed consensus on NFC award

As Pakistan approaches Budget 2026-27, its fiscal federalism is mired in stagnation rather than progress. The 11th National Finance Commission (NFC), constituted in August 2025 amid much anticipation, has held multiple meetings and formed working groups on critical issues. Yet, a consensus award remains elusive.

Realistically, negotiations are unlikely to conclude before the upcoming budget cycle. This deadlock need not immobilize the fiscal federal system; instead, it should push policymakers toward a pragmatic, evidence-based approach that safeguards fairness and stability during this transition period.