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Home News Power Sector News Jharkhand power board aims at break even in a month

Jharkhand power board aims at break even in a month

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 JharkhandThe 15th chairman of the Jharkhand State Electricity Board (JSEB) S N Verma has made a challenge to bring the power utility at break even stage in a month's time. JSEB has been incurring financial loses year after year since its constitution in January, 2001 after formation of new Jharkhand state bifurcating Bihar.

Verma said that JSEB's total monthly expenses including establishment, repair and maintenance, power purchases from external agencies and others were of the order of Rs 250 crore and against this the monthly revenue collections two years ago stood only at Rs 147 crore. Now the board had been able to improve the revenue collection to Rs 240 crore per month. Besides, it has fixed a target to increase the revenue collection to Rs 300 crore per month.

Verma said JSEB has been making payments every month against the supply of coal from Coal India. Besides, he claimed the power board has been paying on time against the power purchases from Damodar Valley Corporation (DVC), Tenughat Vidyut Nigam Limited (TVNL), National Thermal Power Corporation (NTPC) and National Hydro-electric Power Corporation (NHPC).

Chairman said the board's power transmission and distribution networks are being strengthened at a cost of Rs 3,000 crore. All efforts are being made to replace a burnt transformer within 24 hours when two years ago there were around 900 defunct transformers all over the state. This figure now decreased to 250. JSEB has started purchasing new transformers, new electrical conductors and other spares so that faults were repaired within minimum period.

JSEB chief said that the practice of hiring employees on contract basis will now be abolished. The board has decided to appoint around 2,500 employees on a regular basis. The board has been functioning with less than 30 per cent of its sanctioned strength, he added.

Source- Business Standard

 

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