Hoshiarpur: In a press note issued by former Cabinet Minister and senior BJP leader, Tikshan Sood, he refuted the government's claim that Powercom is profitable, saying that this is merely a false manipulation of figures. In reality, Powercom's financial situation is in dire straits. He stated that government departments alone owe over ?2,500 crore for electricity consumption. Similarly, Powercom has yet to receive the outstanding government subsidy of approximately ?24,000 crore. Furthermore, there is rampant power theft.
All of this is impacting consumers who are honestly paying their electricity bills and not taking advantage of free electricity. Mr. Sood questioned the government, asking why Powercom is so intent on selling off approximately 140 acres of valuable assets if it is profitable. Due to the government's treasury and Powercom's dire financial situation, the government decided to sell 50 acres near Gate No. 23 in Patiala and several properties in Ludhiana and Mohali. This was met with strong opposition from Powercom employees. Finally, a public interest litigation was filed in the Honorable Punjab and Haryana High Court. On January 20, 2026, the court issued a stay order preventing the government from selling Powercom's assets. Mr. Sood stated that the government is seeking to profit by making a futile effort in an election year by merely reducing electricity bills. The government owes Powercom so heavily that Powercom cannot stand on its own due to this government's flawed policies.