Daily Times

KARACHI: Sindh Finance Minister Murad Ali Shah said on Sunday the provincial government spent Rs 70 billion on infrastructure and communication projects associated with the Thar Coal project, which would generate 20,000 to 25,000 megawatts of electricity.

During a post-budget briefing to the media, Shah flayed the federal government for not giving Sindh its due share of the National Finance Commission (NFC) Award. He said that Sindh’s share in the NFC Award was Rs 112 billion.

Highlighting various aspects of the budget 2016-17 of Rs 869.1 billion, Shah said it was a balanced and comprehensive budget and everything was clear about the tax collection, Rs 124 billion revenue target and revised Excise and Taxation target of Rs 154 billion. He criticised the federal government for not completing various energy and water projects. He said the Sindh government was helpless because it did not get its share of the NFC Award.

He said that Sindh government’s share was 54 percent in the Thar Coal project and other energy projects, including a wind power project in Jhampeer and other projects, which are underway, but the federal government allocated only Rs 3.5 billion for the K-IV water project in Karachi in the national budget for the next year.

The provincial finance minister said there had been a decrease of 4.1 percent in the revised estimates of revenue collection for the year 2015-16. He said the total revenue collection stood at Rs 696.7 billion compared to the target of Rs 726.6 billion. He said that straight transfers and grants stood at Rs 494.3 billion, which were almost the same as they were in the budget estimates.

He said that receipts of Rs 9.9 billion in the FY 2016-17 and provincial taxes and non-tax receipts had been revised to Rs 133.6 billion. He said that allocation for the Annual Development Programme (ADP) had been increased by 39 percent. He dismissed the statements of the Muttahida Qaumi Movement (MQM) that the government wrote off loans.