PM assures K-P of releasing Rs20b in net hydel profit

Cash-strapped provincial govt may get fiscal space, avoid overdraft if funds released in time

Our Correspondent March 06, 2019
PM Imran Khan. PHOTO: FILE

PESHAWAR: Prime Minister Imran Khan has assured of releasing Rs20 billion of net hydroelectricity profit dues to Khyber-Pakhtunkhwa out of total outstanding amount of Rs65 billion.

The timely release of the funds will help meet the urgent needs of the cash-strapped province which was seeking overdraft from the State Bank of Pakistan.

PM Imran Khan had issued the directive to the finance department during a meeting with K-P CM Mahmood Khan the other day.

CM Mahmood had briefed Premier Imran in detail about the financial crisis in K-P government. PM also assured on releasing Rs45 billion due on net hydel profit by June.

CM had informed the premier that the development works in K-P were severely affected, while the provincial governemtn was also short of funds to meet administrative expenditures due to the non-payment of the Rs65 billion owed by the federal government under the head of net hydel profit.

Last month, Khyber-Pakhtunkhwa Chief Minister Mahmood Khan has assured Omar Ayub Khan of carrying out development work in Haripur.

Power Minister Omar Ayub Khan in turn assured the CM of helping in release of Rs20 billion from K-P’s share in net hydel profits, according to reports.

Meanwhile, CM Mahmood on Tuesday said politics of PTI is people centric, giving relief to the people and promoting the collective cause of the society and nation. His government is out to establish a just system of governance in the province, he added. We want to form a society based on justice and equality where no one finds a room for the transgression of the rights of others. The country and the province have multiple challenges. His government would never compromise on merit and transparency and Imran Khan was the last hope for the country and the nation, he added.

He was addressing a 150 members delegating of Insaf Youth Federation at Chief Minister House Peshawar. Minister for Agriculture and live stock Mohibullah was also present at the occasion former President ISF Meena Khan, District Peshawar ISF President Ashfaq Marwat, Allama Iqbal Dawar and others addressed the gathering.

Mahmood appreciated the dominant role of ISF in making it to the power adding that the youth should focus on their education because their parents invested their hard earned money on their success and their success was the ultimate destination of the country.

The youth would get appropriate share in the whole governance structure on merit and according to their intelligence and capabilities. He assured to look into the report of the recent university incident and make a decision on merit.

Published in The Express Tribune, March 6th, 2019.


Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ