BBMB share dispute: Punjab very close to amicable settlement, Centre to SC

On Wednesday, the Centre informed the Supreme Court that the Punjab government is nearly ready to reach a mutually acceptable agreement on payments owed to Himachal Pradesh for the Bhakra Beas Management Board projects since 1966. The Centre had proposed a cashless settlement on July 30, suggesting that Himachal and Haryana pay the outstanding arrears to Punjab in the form of electricity instead of cash.

However, Punjab had objected to the proposal. The Supreme Court had criticized the Punjab government for not agreeing to the Centre's proposal, stating that it has a history of not following court orders. Attorney General R Venkataramani told the court that the Punjab government is very close to agreeing to the proposal, and the matter will be heard again on August 20.

Under the Centre's proposal, Himachal Pradesh would not have to pay the ₹420 crore in arrears, but instead receive energy credits equivalent to 12,000 million units out of the total ₹13,066 million units owed.