Punjab

Punjab warns federal govt over non-payment of hydel profit arrears

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LAHORE: Punjab government has demanded of the federal government of arrears of net hydel profit worth Rs 102 billion with the ultimatum that it would take up the issue in the Council of Common Interest (CCI) if it is not timely resolved.  

Chief Minister held a meeting with Punjab Finance Secretary to discuss modalities for placing the demand before the federal government, states a copy of meeting minutes available with ARY News.

CM Shahbaz Sharif directed the Finance and Energy departments for chalking out the strategy for taking up the case with the federal government in the first instance. The bureaucrats informed the CM that the Finance department had already initiated the summary for the CCI.

He was further told that Punjab would raise the total demand of Rs 102 billion in two parts including a lump sum amount of Rs 60 billion and the remaining Rs 42 billion to be arranged in installments.

The Chief Minister instructed the provincial administration for requesting the federal government to pay outstanding dues to the provincial government and interest on pending liability may also be highlighted.

He further stated that the process should be expedited, and if required, Federal Finance Minister may be requested for intervention. Secretary Finance apprised the CM that they had already written two DO letters to the federal government in this regard.

pay the interest against loans being given to the farmers by the banks.

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