PESHAWAR:The Khyber Pakhtunkhwa Assembly was informed on Tuesday that the center paid Rs 70 billion arrears under the head of net hydel profit to KP.
Responding to the question raised in the assembly, chaired by Speaker Mushtaq Ahmad Ghani, by Khudil Khan Advocate of ANP, Minister for Finance Taimur Salim Jhagra said Khyber Pakhtunkhwa has been receiving Rs three billion under net hydel profit on monthly basis. He said during the fiscal year, KP received more than Rs 30 billion under the head,
Taimur Salim Jghar said the provincial government would not disown the AGN Kazi formula for payment of net hydel profit to the province.
He said a Memorandum of Understanding (MoU) was signed between center and KP government in 2015-16 under which the federal government agreed to pay Rs 70 billion under net hydel profit to KP.
He said the center had paid Rs 55 billion to KP from fiscal 2015-16 to 2017-18 while in 2018-19 the center only paid Rs 3.095 billion out of Rs 15 billion. Similarly in 2019-20 the center paid Rs 11.905 billion out of Rs 15 billion.
He said 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 would contact the center to get update on the report of the committee constituted by CCI on net hydel profit.