Finance ministry refutes news regarding less transfers made to Sindh

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ISLAMABAD: The Ministry of Finance on Thursday refuted news reports/statements which claimed that the federal government has made less transfers to the province of Sindh during the current financial year.

“It is clarified that during the first half of FY2017-18, the Federal Board of Revenue reported a collection of Rs1,845.3 billion (inclusive of arrears of previous year) and the share transferred to Sindh was Rs251.5 billion,” According to a statement issued by the ministry on Thursday. “During the same period of current financial year, (FY 2018-19), FBR reported the collection of taxes at Rs2,011.4 billion (inclusive of arrears of previous year) and transfers to Sindh worth Rs275.2 billion have been made, thus showing an increase of 9.4pc over the corresponding period of the last financial year.

It is evident that the transfers, in both absolute and percentage terms, have increased, the ministry stated, adding that the federal government immediately transfers the share of all the provinces as per the National Finance Commission formula, based on the revenue collection reported by the FBR.

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