K-P seeks release of net-hydel profit share before budget

PESHAWAR: Khyber-Pakhtunkhwa government has contacted the federal government for net hydel profit share of Rs36 billion to ease its financial difficulties.

Source in provincial government said that the province has demanded release of its share before the next budget.

Previously, the K-P government was using various channels to take up the issue of net hydel profit of Rs36 billion from federal government, while now the government have filed a demand note to federal government of their dues.

The provincial government had shown the details of the net hydel profit share at Rs65 billion in its budget document.

The centre, however, paid only Rs20 billion to K-P out of the said amount.

Currently, the federal government owes Rs45 billion to K-P, while due to lesser energy production the amount has been reduced to Rs36 billion.

Centre slashed Rs9 billion from K-P’s share through tactful arbitration.

Published in The Express Tribune, May 5^th, 2019.