Last tranche of federal transfers are received on 30th June: chief minister spokesman
Karachi, June 27, 2012 (PPI-OT): The Spokesman of the Chief Minister Sindh has clarified new items appeared in newspapers and news channels, regarding stoppage of over draft of Sindh Government by State Bank of Pakistan, and said that the last tranche of Federal Transfers that the last tranche of Federal transfers and also short receipt in Federal transfers during the Financial Year are usually received on the last working day of the Financial Year i.e 30th June.
It is, therefore usual for the Provincial Government to resort to utilization of overdraft facility in the month of June to finance expenditure on development activities as well as to make payment of salaries, he said.
Nevertheless, on 30th June 2012, as the Government of Sindh receives its share of federal receipts, the cash flows of the Province will improve and the Government of Sindh is confident to meet and honour all its commitments, he added.
For more information, contact:
Mr. Allah Bachayo Memon
Chief Minister House
Tel: +9221 99202019
Cell: +92300-3524057 (Ext: 336)