Home Punjab PSPCL on seventh heaven; for second month in a row gets financial boost from Punjab government

PSPCL on seventh heaven; for second month in a row gets financial boost from Punjab government

PSPCL on seventh heaven; for second month in a row gets financial boost from Punjab government
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PSPCL on seventh heaven; for second month in a row gets financial boost from Punjab government

Kanwar Inder Singh/ royalpatiala.in News/ July 8,2024

Punjab State Power Corporation limited (PSPCL) management is on seventh heaven  as the state government has released June 2024 subsidy along with partial amount of last financial year pending subsidy bill. The state government has released Rs 2109 crore for the month of June 2024.

As per available information, state government has released Rs 6129 crore as power subsidy to Punjab State Power Corporation limited (PSPCL) for the month of April, May and June 2024. The state government has released Rs 1820 crore for the month of April, Rs 2200 crore for the month of May and Rs 2109 crore for the month of June 2024.

“The government has given Rs 1820 crore power subsidy bill of June 2024 and Rs 289 crores pending amount “said a senior functionary of the powercom.  He added that ” the powercom has received almost one third of the last year pending subsidy in the first quarter of the financial year 2024-25.”

The state government has released Rs 2477.67 crore for agriculture (AP) category consumers, Rs 2773.00 crore for domestic (DS) category and Rs 878.33 crore for industry category making it to Rs 6129 crore.

As per senior PSPCL functionary on the condition of anonymity said “Punjab government has given a financial boost to the powercom when it is much needed in the peak season. Not only the state government has given the April, May and June’s power subsidy bill but has also released the last financial year’s Rs 669 crore out of pending Rs 1923 crore. This pending amount will help PSPCL in the paddy season, when every penny counts.”

As per sources Punjab govt had paid Rs 18,276.74 crores as power subsidy to the Punjab state power corporation limited (PSPCL) from April 1,2023 to March 31,2024.

PSPCL on seventh heaven; for second month in a row gets financial boost from Punjab government
PSPCL in profit

As per available information, the annual revenue requirement for 2024-25 has been assessed at Rs.46383 crores and its annual income at the current rates will be Rs.47940 crores. The main component of ARR is power purchase cost which has been assessed at Rs.30062 crores followed by employees expenses of Rs.7281 crores. The transmission charges payable to PSTCL are Rs.1651 crores.

PSPCL on seventh heaven; for second month in a row gets financial boost from Punjab government. For 2024-25, the power subsidy payable by the Punjab Government has been assessed at Rs.21910 crores. With the pending Rs 1900 crores of 2023-24, the state govt has to release Rs 23,800 crores” earlier said by a senior functionary of the powercom.

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