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news details
Govt spends Rs 12,000 cr on power purchase, liquidating liabilities
Working out modalities to regularise casual PDD workers
1/11/2017 11:10:10 PM
Asif Iqbal Naik
Early Times Report

Jammu, Jan 11: Finance Minister Haseeb Drabu, in his budget speech on power sector and its reforms, has said that the state government spent Rs 12000 cr on Power Purchase and liquidating past liabilities during financial year 2016-17 and added that there was a transmission loss of 30 pc which is highest in the country.
He said that there are thousands of casual workers engaged over a period of time by the Department, who support regular employees in providing electricity supply to consumers added that these workers, many a times at a grave risk to their lives, have been giving assiduous service and support to the Department.
He said that the Government is working out a comprehensive policy for all such casual workers across various Departments for these workers in the PDD, especially in view of their job related risks. He said that despite this high level of public spending, the power situation on the ground--in winters in Kashmir and in summers in Jammu -- hadn't improved added that 'all the money spending seems like water off a duck's back'.
He said that till date, the government had liquidated more than Rs 4,000 cr of past liability and the balance will be cleared by the end of the financial year. He said that the power deficit in financial terms is a little more than Rs 2,500 crore after adjusting subsidy element and reasonable T&D losses and added that if this deficit is taken care of, 'we would have no budgetary deficit'.
He said that there are 23 lakh households in the state and three lakh households are still not electrified for which state is buying 3200 MUs to provide electricity to its 20 lakh households. Instead, they buy 6400 MUs for the household segment at an average consumption of 6 units per household after accounting for T&D losses of 30 per cent. He said to address the supply side of power, the Government is conscious of the need of enhancing the capacity of the power Transmission & Distribution infrastructure to cater to the normal growth of load over years and added that once implemented, he is confident that the Government will be able to give 24x7 quality, reliable and affordable power to all. He said that the accumulated liability not only carries a surcharge of 18 pc per annum, but there is always a threat of disruption of power to the state, by way of "power regulation" by the Gencos, in the event of continued default of timely payments. He said the total power purchase liability on this account ending 03/2016 was about Rs 8,000 crore, adding the surcharge burden of about Rs 1260 crore per annum.
"I am happy to announce that after adjusting power supply dues, the balance of Rs 1900 crores would be converted into equity, raising the equity contribution of the State Government in J&K SPDC," said Drabu.
"I intend to go for re-valuation of these projects/assets and treat this re-valued amount as additional equity of the Government in the Corporation. This is expected to add additional Rs. 1000 crores to the equity base of the J&K SPDC. Imagine a company having an equity base of Rs. 3000 crores and remains debt free while having a robust pipeline of projects to be executed. In a matter of two years time, this company will be in a position to go public, only the second one of the state after J&K Bank," said Drabu.
"An amount of Rs. 101.28 crore under RGGVY, Rs. 619.67 crore under DDUGJY and Rs. 781.93 crore under PMDP have been earmarked. The funds will be utilized for electrifying the un-electrified 108 villages in the state, providing electricity to 3.56 lakh un-electrified households and for augmenting rural power infrastructure. All the projects have been sanctioned, works have been tendered out and the contracts are under finalization. The works shall start soon and will be completed within next 2 years," said Drabu.
He saidthe state's own installed hydro power generation capacity is 1,419.37 MW comprising of 1,110 MW of HydroPower based stations, 198 MW thermal (Gas turbine) and 110.96 MW of SHPs. JKSDPC and CVPPL have drawn up a roadmap for systematic capacity addition in the hydro sector. "I am happy to inform the House that as a major thrust to hydro power generation, three important projects, namely, Sawalakot, Kiru and Kirthai have been cleared by the Central Electricity Authority" said Drabu and added that government has also started working on taping Small Hydro Electric Projects, Wind Energy upto 25 MW which can play a critical role in improving the overall energy scenario of the state. He said that government was making a provision of Rs. 100 crore in the Budget for FY 2017-18 towards "Energy Efficiency Initiatives".
Drabu said he was making a provision of Rs 2 crore in the Budget for FY 2017-18 for the training needs and Human Resource Development of the Power Development Department.
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