'K-P won't compromise on NHP arrears'.

Byline: Shahid Hamid

PESHAWAR -- The provincial government would not compromise on the arrears of the net hydel profit (NHP), however, it would secure the constitutional rights of the province while keeping in view the financial crisis of the federal government.

Khyber-Pakhtunkhwa (K-P) Finance Minister Taimur Saleem Jhagra said this during a post-budget briefing to media persons on Saturday. The provincial government unveiled its R923 billion annual budget 2020-21 on Friday.

Jhagra said the provincial government is cognizant of the NHP arrears under the AGN Qazi formula. The province receives Rs100 billion during each financial year in gas, net hydel profit and provincial taxes and whenever there is delay in the payments, it creates financial crisis for the province.

K-P received Rs3 billion each month from August to January and since February, they have not received NHP arrears, he added.

The finance minister said the NHP arrears is a longstanding issue between the centre and K-P and no previous government could resolve it. However, the previous provincial government led By: Pervez Khattak had increased the arrears form Rs6 billion to Rs20 billion, he added.

It is unfortunate that the...