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No delay in funds transfers to provinces under NFC Award: Finance ministry

ISLAMABAD: Finance ministry Monday said the federal government has neither reduced nor delayed the transfer of funds to any of the provinces.

“All the provinces have been receiving their share in the federal transfers in accordance with the National Finance Commission (NFC) Award,” the finance ministry clarified.

The center makes these transfers, fortnightly, on the same day of reporting of the collections by the collecting agencies such as; Federal Board of Revenue and Petroleum Division, it added.

Any shortfall in revenue collections results in a uniform change in the share of the federation and the provinces in the federal transfers.

The ministry further clarified 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% increase such as; Rs23.7 billion higher than the last year.

Similarly, Punjab and Khyber Pakhtunkhwa have received Rs866.6 billion and Rs290.4 billion, respectively, compared to Rs801.7 billion and Rs269.3 billion received during the corresponding period last year that has resulted in 8.1% and 7.9% increase in their federal transfers.

Balochistan also saw a12.8% increase in its federal transfers by receiving Rs180.3 billion compared to Rs159.9 billion during the same corresponding period.

(APP)

Posted on: 2019-04-30T07:40:00+05:00

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