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Khyber Pakhtunkhwa receives another Rs.3 billion in hydropower profits

Peshawar: According to a recent news report, the government of Khyber Pakhtunkhwa has received an additional Rs. 3 billion from the federal government on account of net electricity profit, according to KP Finance Minister Taimur Saleem Jhagra.

“The federal government has so far provided Rs. 11 billion to the province under electricity profit during the ongoing financial year,” he informed. “The KP government will now negotiate on the increase the instalment amount with the federation.”

Read More: Rs 19.1 billion approved for 24 development schemes in Khyber Pakhtunkhwa

Jhagra credited the continuous inflow of net electricity profit to the sensible efforts of the KP government. “Earlier, Rs3 billion was received in December and November, while in October 2020, the provincial government received Rs2 billion,” he added.

According to sources, in the last financial year, the Khyber Pakhunkhwa government had allocated Rs. 55 billion in net profit from the federal government in its budget documents, of which the federal government only managed to release Rs. 15 billion.

Read More: Contract signed to set up shelter homes in Khyber Pakhtunkhwa

Sources have also said the provincial government had earlier protested against the federal government for delaying the payment of instalment. However, despite facing several financial constraints to complete its developmental projects, the province remained unable to secure its net hydel profit from the centre.

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