Sindh receives Rs441.8 billion in nine months: finance ministry

Sindh receives Rs441.8 billion in nine months: finance ministry

ISLAMABAD: The ministry of finance on Monday said that Sindh has received Rs441.8 billion during the first nine months of current fiscal year.

While clarifying media reports that the federal government had delayed or reduced transfers of funds to provinces, said that the government of Sindh has received Rs441.8 billion, as federal transfers, during the first three quarters (July – March 2018–19) of the current fiscal year compared to Rs418.1 billion during the corresponding period of the last fiscal year entailing a 5.7 percent increase i.e. Rs23.7 billion higher than the last year.

Similarly, Punjab and Khyber Pakhtunkhwa have received Rs 866.6 billion and Rs. 290.4 billion, respectively, compared to Rs 801.7 billion and Rs 269.3 billion received during the corresponding period last year that has resulted in 8.1 percent and 7.9 percent increase in their Federal transfers.

Balochistan also saw a12.8 percent increase in its Federal Transfers by receiving Rs. 180.3 billion compared to Rs. 159.9 billion during the same corresponding period.

The ministry said that all the provinces have been receiving their share in the Federal Transfers in accordance with the NFC Award.

The Federal Government makes these transfers, fortnightly, on the same day of reporting of the collections by the collecting agencies (i.e. Federal Board of Revenue and Petroleum Division).

Any shortfall in revenue collections results in a uniform change in the share of the Federation and the provinces in the Federal Transfers.

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