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KPK asks federal govt to pay hydel profit dues

The Khyber Pakhtunkhwa government in a unanimous resolution has called upon the federal government to immediately pay the dues of net hydal profit to the province as per article (161) and AGN formula.

The resolution was moved by Khyber Pakhtunkhwa Finance Minister Siraj-ul-Haq in a well-attended meeting of all the former finance ministers of Khyber Pakhtunkhwa along with finance secretaries.

The resolution further said that the arrears of net hydal profit is due right of the Province and its non-payment is violation of the rules of council of common interest as well as constitution of Pakistan.

The participants also condemned the recently convened meeting of NEPRA in which they had decided to freeze the amount of net hydal profit and vowed that provincial government will fight the case in the court of justice.

The meeting reiterated that the federal government is responsible under Presidential Order 3/1991 to pay this amount and in case the federal government failed in the provision of these arrears, then provincial government will bring this issue in the meeting of National Finance Commission (NFC).

The finance minister vowed that all political parties of the province as well as the provincial government are united on this important issue and they are ready to go to extreme level for the rights of province. They said that as per the AGN Qazi Formula Federal government is liable to pay 67 billion each year in term of net hydal profit.

He informed that as per the AGN Qazi Formula the total amount from 2005 to 2012 is Rs469 billion while as per the arbitration tribunal the amount is Rs273 billion. He maintained that federal government has been agreed to pay some of the amount Rs45 billion to Khyber Pakhtunkhwa province but WAPDA has adopted delaying tactics in the payment of this amount.

He recalled the federal government that Khyber Pakhtunkhwa has been badly affected in the war against terrorism and thousand of people have been died in these terrorist activities. There is severe shortage of financial resources to compensate the affected people and to reconstruct government installations after bomb blasts.

He maintained that as per the international statistics any conflict zone wastes its two percent of its total production which results speedy degradation of GDP. The major investors of the province also shifting its investment to other provinces and in this connection one per cent of Federal Divisible pool is very insufficient amount to overcome financial needs of the terrorism hit province.

He said that this meeting demanding to allocate five percent of federal divisible fools to redress the losses of this province. He informed that total estimate of losses in this province in 86 billion rupees, which needs immediate imbursement of funds from the federal government.

They said that due to severe loadshedding, the province baldy affected financially and people have closed their business, which further multiplied the unemployment ratio.

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