KARACHI: Sindh cabinet has approved Budget Strategy Paper 2017-20, saying that vertical distribution across the provinces is based on four criteria of which population is the most important one.
Sindh cabinet meeting was held in Chief Minister (CM) Sindh house, under chairmanship of CM Sindh Syed Murad Ali Shah. The meeting was attended by Nisar Khuhro, Mir Hazar Khan Bijarani, Manzoor Wassan, Syed Sardar Shah, Syed Nasir Shah, Jam Mehtab and Ziaul Hassan Lanjar and others.
Secretary Finance Hassan Naqvi briefed the cabinet about the budget strategy paper and said with the objective to mobilize own resources and to improve public financial management the Sindh government is implementing `Sindh Public Sector Management Reform Project’ with the assistance of the World Bank.’
The chief minister said that the Budget Strategy paper and its approval by the cabinet is one of Disbursement Linked Indicators (DLIs) under the project, the objective of the DLI is to enhance Transparency in budget formulation, allocation and execution. The Secretary Finance Hassan Naqvi said that during the current financial year, 2016-17, total Revenue, revised, are Rs710.4 billion which include Rs550.4 billion federal transfers, Rs470 bn Revenue assignment, Rs54.9 bn Straiught Transfer, Rs12.2 billion Development Grants (PSDP &Foreign), Rs133 billion OZT. The provincial Revenue has been revised at Rs160 billion which includes Sales Tax on Services Rs78 billionn, Other taxe receipts Rs70 bn and Non-Tax revenue Rs12 billion.
The chief minister, Syed Murad Ali Shah told the cabinet that the vertical distribution across the provinces is based on four criteria of which population is the most important one. The distribution criteria’s of the NFC Award Formula and the provincial share in the divisible pool is like this.
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