Energy, Water Resources and Irrigation Minister Kulman Ghising has claimed that the government earned a profit equivalent to 1.20 billion rupees by signing a power purchase agreement with India’s PTC company.

During Monday’s meeting of the Public Policy and Delegated Legislation Committee under the National Assembly of the Federal Parliament, he responded to questions raised by lawmakers, stating that allegations that the government had illegally lost 430 million rupees through the power purchase agreement - and that there had been major financial irregularities - were not true.

He stated that the current rate of 6 rupees 95 paisa, compared to PEC’s rate of 8 rupees 10 paisa, had generated a profit of about 1.20 billion rupees, and therefore it could not be considered a loss. Minister Ghising also said that if the government had not immediately signed the agreement and purchased electricity, the country would have faced a situation requiring load-shedding.

Minister Ghising said that the government has been making day-to-day electricity purchase agreements with India as needed. He clarified that the government adopts this policy to meet immediate electricity demands.

BikashNews