The report identified two main factors behind the widening federal fiscal deficit: increased transfers following the 7th NFC Award without corresponding adjustments in federal expenditures, and stagnant revenue collection. Faisal Sheikh                 ISLAMABAD: The World Bank on Wednesday, in its report titled “Strengthening Fiscal Federalism in Pakistan,” stressed the need to reform the country’s system of resource distribution among federal, provincial and local governments. It warned that stronger fiscal coordination was essential to sustain economic stability, improve public service delivery and effectively respond to the demands of a rapidly growingRead More