Tuesday, September 29, 2020

Chandigarh

Punjab govt continues to default on payment for power subsidy

VINOD GUPTA | September 09, 2020 01:43 PM

CHANDIGARH:Punjab govt continues to default on payment for power subsidy to Punjab State Power Corporation Ltd. (PSPCL).
As per official information, the Punjab Government has defaulted about
Rs. 3100 crore on payment of power subsidy to PSPCL out of Rs.6700
crore amount due on August 31.
The cash subsidy paid by the government is Rs. 2506 crore .and the provisional amount of excise duty and IDF collected by PSPCL on behalf of the government are s Rs.831 crore and Rs. 267 crore respectively.

The total subsidy payable by the Punjab government to PSPCL is Rs. 16400
crore out of this the subsidy amount of Rs. 10621 crore is for the year 2020-21 and the last year's arrears are Rs.5779 crore. The agriculture subsidy is Rs 6810 crore, Domestic power supply subsidy to SC/BPL/BC consumers is 1512 crore and to the small, medium, and large supply industrial consumers this is 1927 crore.
The financial survival of PSPCL hinges upon the payment of complete subsidy by the Punjab Government.PSPCL has already suffered a major financial blow due to lockdown. The revenue of PSPCL from industry has not yet picked up as the complete revival of the industry is still in process.

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