Punjab govt continues to default on power subsidy bills
The state government continues to default on the payment of power subsidy to the Punjab State Power Corporation Ltd (PSPCL), with the outstanding bill for the first two months of the financial year 2018-19 inflating to Rs 1,548.36 crore. As per the power tariff order, Rs 13,718.02 crore subsidy for the new financial year has to be paid in 12 monthly advance installments of Rs 1143.17 crore each. Of the Rs 2,286.36 subsidy amount for April and may, the government has paid only Rs 738 crore The non-payment of subsidy has created a cash crunch for the power corporation, which is yet to pay bills of the electricity purchase it makes. The payment of nearly Rs 300 crore for purchase of power from Larsen and Toubro (L&T)’s Nabha thermal plant was .....