ISLAMABAD: Ministry of Finance has strongly refuted news reports which claim that the federal government has made less transfers to Sindh during the current financial year.
In a press release, it is clarified that during the first half of Fiscal Year 2017-18, 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 Rs.251.5 billion and during the current financial year it is Rs.275.2 billion showing a growth of 9.4%.
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.
