Sindh government gets share as per NFC formula: finance ministry

ISLAMABAD: The finance ministry on Thursday said that transfers to Sindh government have been made as per NFC formula.

 

 

 

In a statement the ministry clarified reports, which claimed that the federal government had made less transfers to Sindh during the current financial year.

The ministry said that during the first half of FY 2017-18, Federal Board of Revenue (FBR) reported a collection of Rs1845.3 billion (inclusive of arrears of previous year).

During the same period of current financial year, FBR reported collection of Taxes as Rs2,011.4 billion (inclusive of arrears of previous year).

The share transferred to Sindh province during the same period of last financial year was Rs251.5 billion and during the current financial year it is Rs275.2 billion showing a growth of 9.4 percent.

It is evident that the transfers in both absolute and percentage terms have increased.

It is further clarified that the federal government immediately transfers the share of all the provinces as per the NFC formula, based on the revenue collection reported by the FBR.

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