PESHAWAR, Sept 3: The NWFP government wants of the Water and Power Development Authority (Wapda) and Federal Government to resolve the impending net hydel profit issue during the current financial year, according to sources.

The provincial government had requested Islamabad to help it resolve the contentious net hydel profit issue during the current financial year as non-resolution of the impending issue had been seriously distorting the provincial budget over the years in addition to making difficult preparation and implementation of the NWFP budget.

“The request has been made under a recently sent letter to the federal government and Wapda,” said a source in the provincial cabinet.

The provincial government has recently made a fresh claim of around Rs298bn payable as arrears on account of net hydel profit by Wapda—a claim rejected by the authority in a press statement.

Wapda is releasing Rs6bn every year to NWFP against its net hydel profit share — apparently much less than the annual share determined on the AGN Kazi committee’s formula devised in 1987.

The provincial government has taken the stand that as the Rs6bn amount released to it every year was at the lower side and insufficient to help it meet its budgetary requirements, hence, the issue should be decided, once for all, ahead of the next financial year’s budget.

“The Centre has been requested for an amicable settlement of the issue on urgent basis so that the provincial government could be saved from budgetary complications during the next financial year,” said the sources.

Apart from making claim of Rs298bn and seeking settlement of the contentious issue during the current financial year, the provincial government, said the sources, had also questioned the validity and correctness of the figures, pertaining to income from the sale of electricity and other matters, provided to it every year by Wapda.

In many instances, said the sources, the provincial authorities concerned found that the figures provided to the provincial government by Wapda were found to be incorrect.