Chandigarh, March 10 -- Punjab BJP president Sunil Jakhar on Monday alleged that the AAP government in the state was conspiring to financially weaken the Punjab State Power Corporation Limited (PSPCL) by manipulating financial records and misleading people about electricity tariff reductions. Addressing a press conference here, Jakhar alleged that the government was portraying the power utility as moving from losses to profits on paper while actually pushing it towards financial collapse and eventual privatisation. "On November 28 last year, PSPCL filed its annual revenue requirement (ARR) petition with the Punjab State Electricity Regulatory Commission (PSERC), which must be submitted before November 30 each year according to regulations. In that petition, the corporation reported a loss of Rs.1,715 crore. However, on February 4, 2026, for the first time in history, PSPCL filed a revised petition, which was surprisingly approved by the regulatory commission," Jakhar said. In this revised petition, the corporation claimed a surplus of Rs.7,852 crore and said it would require only Rs.15,200 crore in electricity subsidy instead of Rs.19,600 crore, he said. Jakhar further alleged that the Rs.3,581.95 crore loss-funding provided by the government was wrongly shown as income in the corporation's financial accounts, which he said is completely incorrect and against the rules. "On the basis of this revised petition, the government has created the impression that electricity tariffs have been reduced. However, this is misleading. The largest reduction has been shown for domestic consumption up to 300 units, but since electricity up to this limit is already free for many households, the benefit will not reach consumers. Instead, it will only reduce the subsidy the government pays to the power corporation," Jakhar said, questioning whether the corporation can continue to function under such circumstances. Jakhar asserted that no matter what method is used, the actual costs and expenditures cannot be ignored. He said the financial condition of the power corporation is extremely concerning, and the government still owes Rs.11,109.70 crore in subsidy up to March 31, 2025. In addition, Rs.4,300 crore is pending for the period till now, and Rs.2,600 crore is owed by government departments. Jakhar also criticised the government for not appointing a regular chairman for PSPCL and alleged that officials sent from Delhi were effectively running the corporation. Jakhar said that such measures could have serious financial consequences for the state in the next financial year and that the burden would ultimately fall on the people of Punjab....