SC verdict on power sharing could ease HP debt crisis

The Supreme Court’s verdict saying Himachal Pradesh is entitled to 7.19 per cent share in the power generated by the Bhakra Beas Management Board (BBMB) hydro electric projects can to some extent lighten the debt burden of the hill state which has crossed Rs 27,000 crore .

According to the historic judgement delivered on Tuesday, the compensation will be calculated by the central government and will be paid by neighbouring Punjab and Haryana.

The two states have benefited from projects built on the Beas river over the last 45 years till 20 years ago, and that include the Bhakra Nangal project .

Himachal Pradesh had also sought 12 per cent of the power as royalty generated by BBMB hydropower projects in the state, but this has not been given .

Although experts will sit down to calculate the exact compensation to be handed over to the hill state, according to a rough estimate the arrears to be dished out to Himachal Pradesh could be at least Rs 600 crore and Rs 200 on annual basis .

Both the ruling BJP and the Opposition Congress are claiming credit for fighting the case in the apex court .

While chief minister P K Dhumal called it a landmark judgement, which fetches the state’s rightful share of assets divided after the reorganisation of Punjab in 1966, he said the state government fought the case on its own with no help from the Centre .

On the other hand, Union minister Virbhadra Singh of the Congress said the verdict will help Himachal in a big way .

He recalled that his government in 1996 had approached the Supreme Court too.