ISLAMABAD, Jan 17: Ministry of Finance strongly refutes news reports/statement claiming that the Federal Government has made less transfers to Sindh during the current financial year.
It is clarified that during the first half of FY 2017-18, FBR reported a collection of Rs.1845.3 billion (inclusive of arrears of previous year).
During the same period of current financial year, FBR reported collection of Taxes as Rs.2,011.4 billion (inclusive of arrears of previous year), said in statement issued by Ministry of Finance here on Thursday.
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.
