PR No. 123
Islamabad: February 14, 2020

This is with reference to the news item published in a section of press on 13th February 2020 titled ”NFC –Release of less funds of Rs 249.4 billion to Punjab Government during current financial Year”. Finance Division clarifies that Federal Government is releasing funds regularly to the provinces on fortnightly basis as per the NFC Award. The release of funds is based on FBR’s tax collections. As per FBR’s reporting, during the current financial year the tax collection stood at Rs 2594.5 billion up to 31st January 2020. Out of this, an amount of Rs 746.9 billion has been released to the Government of Punjab as their share according to the NFC award. Consequently the reported figures and the claims of less payment are misleading and incorrect. As regards the payment of Net Hydel Profits, the same is directly released by WAPDA.