PESHAWAR
The Khyber Pakhtunkhwa Assembly was informed Tuesday that the center paid Rs70 billion arrears under the head of net hydel profit to KP.
Responding to the question of Khudil Khan Advocate of ANP, Minister for Finance Taimur Salim Jhagra said that the Khyber Pakhtunkhwa has been receiving Rs3 billion under net hydel profit on monthly basis. He said that during this fiscal year KP received more than Rs30 billion under this head.
Taimur Salim Jghar said that the provincial government would not disown the AGN Kazi formula for payment of net hydel profit to the province.
He said that a Memorandum of Understanding (MoU) was signed between center and KP government in 2015-16 under which the federal government agreed to pay Rs70 billion under net hydel profit to KP.
He said that the center had paid Rs55 billion to KP from fiscal 2015-16 to 2017-18 while in 2018-19 the center only paid Rs3.095 billion out of Rs15 billion. Similarly in 2019-20 the center paid Rs11.905 billion out of Rs15 billion.
He said that the net hydel profit as per AGN Kazi formula was raised in CCI (Council of Common Interest) meeting on December 23, 2019 and it was decided that a team comprising high officials and technical experts would present a report in this regard to CCI in the next meeting.
The minister informed the House that the KP government will contact the center to get update on the report of the committee constituted by CCI on net hydel profit.
