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Home News Power Sector News PSEB likely to be unbundled before April 15, 2010

PSEB likely to be unbundled before April 15, 2010

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PSEBThe Punjab State Electricity Board is likely to be split into three companies before the present deadline of April 15, 2010 expires and the government is in the process of drawing up a contingency plan to take care of all eventualities, including protests. Chief Minister Parkash Singh Badal presided over a high-level meeting, which was also attended by Deputy Chief Minister Sukhbir Singh Badal, Local Bodies Minister Manoranjan Kalia, senior civil and police officials and officers from the PSEB, to review the state’s preparedness for the unbundling exercise.

According to sources, three companies will be carved out of PSEB. There will be one transmission company, one company to look after generation and distribution works and one holding company. The process of registration of new companies is likely to be completed in next few days .After this Government will issue necessary notification to un-bundle the PSEB.

PSEB employees were stressing for formation of single company to look after generation transmission and distribution works as proposed in Kerala state. A separate trading company could be carved out to meet the provisions of Electricity Act 2003.

According to sources government sought legal views on the proposal from highest authority and it was clarified that proposal to convert board in to single company was not legally tenable. The views of government were conveyed to many of the stakeholders.

PSEB management has cancelled the leaves of all administrative heads to meet any exigencies. A General Manager of thermal plant was called back from Delhi airport as he was proceeding for sanctioned LTC. Chief engineers in the distribution and thermal plants held meeting with their superintending engineers to discuss the unbundling process.

However, whether this will help the PSEB get out of the red is debatable. The cumulative losses of the PSEB are likely to cross Rs 10,000 crore by March this year.

Local Bodies Minister Manoranjan Kalia said the BJP core committee gave its go-ahead for the unbundling exercise recently. He claimed there were successful models like Gujarat where they claimed that electricity supply position had improved manifold after unbundling. He said unbundling would open up avenues for revaluation of the PSEB properties and make it easier for the new utilities to secure loans.

The SAD-BJP government has been dithering on the unbundling of the board for the past three years and has taken repeated extensions from the Union Power Ministry to put off the mandatory exercise under the Electricity Act, 2003.
Source- PTI

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