Federal govt denies reducing, delaying funds transfer to provinces

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KARACHI: The Ministry of Finance has dismissed reports that it has reduced or delayed the transfer of funds to any of the provinces under the NFC Award.

In a clarification issued on Monday evening, the ministry said all the provinces have been receiving their share in accordance with the NFC Award.

“The Federal Government makes these transfers, fortnightly, on the same day of reporting of the collections by the collecting agencies (i.e. Federal Board of Revenue and Petroleum Division),” it said.

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

The Ministry further clarified that the government of Sindh had received Rs. 441.8 billion, as federal transfers, during the first three quarters (July – March 2018–19) of the current fiscal year compared to Rs. 418.1 billion during the corresponding period of the last fiscal year entailing a 5.7% increase i.e. Rs. 23.7 billion higher than the last year.

Similarly, Punjab and Khyber Pakhtunkhwa have received Rs. 866.6 billion and Rs. 290.4 billion, respectively, compared to Rs. 801.7 billion and Rs. 269.3 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 a 12.8% increase in its federal transfers by receiving Rs. 180.3 billion compared to Rs. 159.9 billion during the same corresponding period.

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