ISLAMABAD - President Asif Ali Zardari has finally re-constituted the much-awaited National Finance Commission (NFC) under the chairmanship of Federal Finance Minister. Finance Division Saturday issued a notification regarding the reconstitution of 9-member NFC headed by the Federal Finance Minister. In the absence of a full-fledged Federal Minister for Finance, Prime Minister will head the NFC. This is why Shaukat Tarin, Advisor to the PM on Finance, cannot head the NFC, as he is not an elected member of either of the two houses of the Parliament. However, sources in the PPP said that the PPP was likely to nominate Shuakat Tarin as candidate for the Senate against a vacant seat to elect him member of the Upper House and remove the constitutional bar on him to head the NFC. In partial modification of Notifications SRO 739 (1) 2005 dated 21st July, 2005, SRO 950 (1) 2005 dated September 12, 2005 and SRO. 900 (1) 2008 dated 26th August, 2008 and in pursuance of Article 160(1) of the Constitution of the Islamic Republic of Pakistan, the President of Pakistan has reconstituted National Finance Commission. The commission will consist of the following members. Minister for Finance will be the Chairman of the Commission and Finance ministers from all the four federating units (Punjab, Sindh, NWFP and Balochistan) will be members of the NFC. Other members of NFC are Abdul Ghafoor Mirza from Punjab, Kaiser Bengali from Sindh, Senator Haji Muhammad Adeel from NWFP and Dr Gulfaraz Ahmad from Balochistan. The Commission shall, in addition to matters referred in para 2 of SRO. 739 (1) 2005 dated 21st July 2005, make recommendations on the following matters, namely: Sales Tax on Services (CE Mode), Examine the question of rationalization of payment of royalties on crude oil and of surcharge on natural gas collected by the federal government and to develop and enforce a mechanism for setting of parameters to fiscal discipline at the federal and provincial levels. The Finance Division shall, as per the Rules of Business, 1973, provide the Secretariat support to the Commission.