Punjab BJP President Sunil Jakhar accused the state AAP government of plotting to financially ruin the Punjab State Power Corporation Ltd (PSPCL). Jakhar revealed how the government, despite showing profit on paper, is actually driving the corporation towards bankruptcy and potential privatization.
Jakhar highlighted that PSPCL initially reported a loss of Rs 1,715 crore in its annual revenue requirement petition filed on November 28 last year. Surprisingly, a revised petition filed on February 4, 2026, claimed a surplus of Rs 7,852 crore, leading to suspicions of misleading financial practices.
Moreover, Jakhar pointed out discrepancies in the corporation’s financial accounts, where a loss in government funding was inaccurately recorded as income. He criticized the government for creating a false impression of reduced electricity tariffs, emphasizing that the benefits may not reach consumers as intended.
Questioning the sustainability of PSPCL under such circumstances, Jakhar expressed concerns over the corporation’s financial state. He highlighted outstanding subsidies owed by the government, amounting to Rs 11,109.70 crore up to March 31, 2025, with additional pending amounts.
Jakhar warned that the alleged manipulation of financial records is a deliberate attempt to drive PSPCL towards significant losses, ultimately paving the way for privatization. He also criticized the government for failing to appoint a regular chairman for the corporation, raising doubts about the current administrative setup.
