KP govt receives another Rs3b in hydropower profits: Taimur Jhagra

PESHAWAR: Khyber Pakhtunkhwa has received an additional Rs3 billion from the federation this month in terms of net electricity profit, bringing the hydropower profit to Rs 11 billion this financial year.

The provincial government will negotiate with the federation to increase the installment.

Khyber Pakhtunkhwa Minister for Health and Finance Taimur Saleem Khan Jhagra said that efforts of the provincial government towards net electricity profit have proved fruitful and the province has started getting regular installments in this regard.

He said, so far during the current financial year, Rs 11 billion has been received, including the January installment of Rs 3 billion.

He said that earlier in December and November also Rs 3 billion had been received while in October 2020 the provincial government had received 2 billion rupees.

Timur Jhagra said that the efforts of Chief Minister Khyber Pakhtunkhwa Mahmood Khan were involved in achieving hydropower benefits for the province while Speaker National Assembly Asad Qaiser, Federal Ministers Umar Ayub, Pervez Khattak and Faisal Wada also played an important role in it.

The provincial minister said that discussions would be held to increase the monthly installments of hydropower profits so that all the royalties for the current financial year would be given to the province and the arrears would be recovered soon under a comprehensive strategy and mechanism.