Government Agrees To Settle Punjab Net Hydel Profit
Fakhir Rizvi Published November 07, 2016 | 09:30 PM
ISLAMABAD, (UrduPoint / Pakistan Point News - 07th Nov, 2016 ) : The government has agreed to settle the net hydel profit of Punjab relating to Ghazi Brotha Hydel power project following the principles of similar settlement reached earlier this year with Khyber Pakhtunkhwa government on the same subject.
Decision to this effect was taken in a meeting chaired by Minister for Finance, Mohammad Ishaq Dar. The meeting was attended by Federal Minister for Water and Power, Chief Minister Punjab, Shehbaz Sharif, Punjab Finance Minister, Federal Secretary Water and Power and other officials of the Federal and provincial government.
The term of the settlement envisaged payment of Rs.82 billion as net hydel power for the periods 2005 to 2016. Of this, Rs.38 billion would be settled through issuance of a promissory note by December 31, 2016 by WAPDA while the remaining amount would be paid over a period of next three fiscal years.
The WAPDA, through Ministry of Water and Power, after soliciting Council of Common Interest approval, would file a petition with NEPRA to seek a tariff determination for supply of electricity from Ghazi Barotha Hydel Power Plant incorporating the terms of the settlement.
Related Topics
Recent Stories
Pak, NZ T20I series online ticket booking from tomorrow
Pak-Türkiye strategize to boost bilateral trade to $5 billion
Chief Representative of CFFEX in Pakistan and PSX Director meet Finance Minister
SC conditionally allows army courts to announce reserved verdicts
12 suspects criminals arrests in search operation:SSP Larkana
Mayor Karachi chairs meeting of SSWMB
PMDC’s int’l recognition ‘historic milestone’ for Pakistan’s health in ..
Secretary HUD&PHE Asad Ullah Khan visits RDA
NHA mobilizes efforts to clear landslide in Zhob-Dhanasar section of N-50
Interior Minister, CM KP vow to eliminate terrorism
China to surpass 1 billion 5G connections this year: GSMA
Students gather at GCU to express solidarity with Palestinians, Kashmiris
More Stories From Pakistan
-
SC conditionally allows army courts to announce reserved verdicts
4 minutes ago -
12 suspects criminals arrests in search operation:SSP Larkana
4 minutes ago -
Mayor Karachi chairs meeting of SSWMB
4 minutes ago -
PMDC’s int’l recognition ‘historic milestone’ for Pakistan’s health industry: Ahsan Iqbal
2 minutes ago -
Secretary HUD&PHE Asad Ullah Khan visits RDA
2 minutes ago -
NHA mobilizes efforts to clear landslide in Zhob-Dhanasar section of N-50
2 minutes ago
-
Interior Minister, CM KP vow to eliminate terrorism
2 minutes ago -
China to surpass 1 billion 5G connections this year: GSMA
2 minutes ago -
Students gather at GCU to express solidarity with Palestinians, Kashmiris
54 minutes ago -
Crackdown on Profiteers in Hyderabad: 23 Traders Fined
54 minutes ago -
IIOJK authorities to bar Eid prayers at Srinagar Eidgah yet again
53 minutes ago -
Railways CEO shares plans for Eid trains, service upgrades through e-Kutchehri
54 minutes ago