Punjab govt seeks more time from PSERC to clear power subsidy bills

Unable to clear the entire power subsidy bill, the state government on Wednesday sought more time from Punjab State Electricity Regulatory Commission(PSERC). The government said there was a major disruption in the release of power subsidy to the Punjab State Power Corporation Limited (PSPCL) due to Goods and Services Tax (GST) and diversion of Rs 3000 crore on ‘food account’.

In its reply filed before the PSERC in regard with petition for discontinuation of power subsidies in case of default in payment, the government admitted that subsidy payable to the PSPCL for the year 2017-18 was Rs 11542 crore and the government had released a sum of Rs 3372 crore, which has been paid in cash, and Rs 2304 crore has been adjusted against the subsidy bill.

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