"There is a financial package proposed by the EU and we told them it is unacceptable," Sinirlioglu told reporters.
He said the action plan agreed late yesterday is "not final" and merely "a draft on which we are working".
The EU and Turkey had struck late yesterday what was described as a deal on an action plan aimed at stemming a massive influx of migrants into the bloc.
The final offer had to be more than the "insignificant and meaningless amount that they proposed before," he said.
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He refused to provide any exact amount Ankara required but said: "If (the EU) delivers 3 billion euros (USD 3.4 bn) in the initial phase, it would be meaningful."
"We have spent USD 8 billion (on refugees) and our gross national product is around USD 800 billion. Their (GNP) is USD 18 trillion.
"Three billion euro versus USD 18 trillion (GNP) is comic but it is much better than the USD 500 million that they had delivered."
Sinirlioglu's comments came after a high ranking EU delegation including EU migration commissioner Dimitris Avramopoulos and EU commission vice president Frans Timmermans visited Turkey this week in search of a deal on the migrant issue.
Meanwhile, German Chancellor Angela Merkel is due in Istanbul for talks with Turkish leaders on Sunday.
However Sinirlioglu did not seem impressed by the sudden diplomatic traffic.
"Turkey is not a country to just be remembered at times of crisis and not a county to cooperate with only for tactical reasons," he noted.