PESHAWAR, June 12: With the current financial year is about to end, the NWFP is yet to get over Rs4.2 billion on account of net hydel profit from Water and Power Development Authority (Wapda), according to sources.

“The financial condition will become more serious if the province does not get the remaining payable amount from Wapda before the close of current financial year,” sources added.

As per the 1996 National Finance Commission award the province is liable to receive Rs14.328 billion on account of net hydel profit (from Wapda) during the financial year 2001-02.

Although for the sake of laying claim the provincial government has projected Rs14.328 billion revenue receipts in its current financial year’s budget document, the province was not supposed to get anything beyond Rs6 billion capped share amount under the same head in line with the last eight financial years.

However, the province has, so far, received only Rs1.71 billion under the said head — including Rs1 billion in cash and remaining as book adjustment against the arrears payable by the NWFP government’s various departments, their attached wings and the government’s semi-autonomous bodies.

“There is a complete silence on the part of Wapda over the payment issue, as several requests made by the provincial authorities for disbursements remained unheard,” sources in the provincial cabinet said.

Although Wapda chairman had promised to disburse Rs6 billion capped share amount during the current financial year, the province is still waiting for Rs4.29 billion remaining amount, some other sources said.

This is not the first financial year when the province is looking towards Wapda to get its due share. Last year, too, the province received well over Rs4 billion two months before the closing of financial year.

However, the current financial year, sources said, appeared to be much tougher than the last fiscal as NWFP was still waiting for its due amount.