Sindh received Rs312 billion in 8 months as part of its share: Federal Finance Ministry

Web Desk
March 19,2019

The statement added during the first 8 months of the current financial year an amount of Rs.312.2 billion has been provided to Sindh as part of its share in the collected revenue.

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Highlights

  • Sindh received Rs.312.2 billion in eight months
  • Sindh also received additional amount of Rs.57.5 billion as arrears for the last year.

ISLAMABAD: The federal government has strongly refuted the impression created by certain statements by representatives of government of Sindh that there is delay in transfer of resources to the Provinces.

The Ministry of Finance, in a statement, clarified it needs to be noted that FBR reports revenue collection to Finance Division twice a month (on 17th and last working day of the month). The shares of the provinces are transferred on the same date as per the NFC formula. No amounts are withheld by Finance Division.

The statement added during the first 8 months of the current financial year an amount of Rs.312.2 billion has been provided to Sindh as part of its share in the collected revenue.

In addition an amount of Rs.57.5 billion has been provided as arrears for the last year.

Overall, the Government of Sindh has received Rs.27.1 billion more during the current financial year (July 2018 - February 2019) compared to the same period of last year.

It seems that the claim of shortfall is based on the assumption that revenue collection is evenly spread during the 12 months of the financial year, which is not the case.

Historically during the initial months of the financial year, the collections remain on lower side compared to the later part of the year with the highest collection recorded in June of every financial year.

The Federal and Provincial fiscal authorities are aware of this fact and plan their expenditures accordingly.


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