Provinces Receive Rs. 880 Billion Under NFC Award in First Quarter of FY23

Despite the financial crunch, the federal government has transferred Rs. 880 billion to provinces through the National Finance Commission (NFC) Award and Rs. 28 billion through different grants during the first quarter of the fiscal year 2022–23 (FY23).

According to documents, the federal government has transferred Rs. 437.74 billion to the Punjab government, Rs. 214 billion to the Sindh government, Rs. 145.767 billion to Khyber Pakhtunkhwa, and Rs. 82.80 billion to Balochistan during the first quarter of the current fiscal year.

The data shows that the federal government has provided Rs. 28 billion through current and development grants to provincial governments, compared to Rs. 68 billion during the same period of the last fiscal year.

The federal government provided Rs. 725 million to Punjab through development grants. The federal government transferred Rs. 3.3 billion through current grants to Sindh during the first quarter of the current fiscal year.

The federal government transferred Rs. 17.17 billion through current grants and Rs. 5.15 billion through development grants to KP during the first quarter of the current fiscal year.

The central government transferred Rs. 1.67 billion under development grants and nothing through current grants to the Balochistan government during the first quarter of the current fiscal year.

The provincial governments surrendered Rs. 218 billion to the federal government to reduce the overall budget deficit during the first quarter of the current fiscal year.

The data shows that the Punjab government has given Rs. 125.22 billion, Sindh Rs. 60.3 billion, KP Rs. 2.96 billion, and Balochistan gave Rs. 29.55 billion as a surplus budget to the federal government during the period.

It is pertinent to mention here that the federal government has estimated one percent of the total GDP surplus budget from the provincial government during the current fiscal year to control the budget deficit.



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