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| J&K's Pakal Dul hydroelectric project goes Baglihar way, CVPPPL disappoints | | | Early Times Report
JAMMU, July 5: National Conference (NC)-led government is just six months away from facing acid test of Assembly elections yet not much headway has been made in getting even minor works started at the 1000 MW Pakal Dul Hydroelectric Project.
Government created a joint venture company of NHPC Limited, JKSPDC and PTC (India) under the name and style of Chenab Valley Power Projects Private Limited (CVPPPL) with the sole purpose of speeding up the construction of hydroelectric projects in Jammu and Kashmir but the company has miserably failed to come up to the expectations. Neither the speed nor the efficiency has improved, say the sources.
Three years have passed since the company came into existence on June 13, 2011 and four years have gone since ex-JK Bank Chairman M.Y.Khan took over; neither has the work on Pakal Dul started nor has the company been able to force Government to construct approach road to the project. Khan owes his rise to National Conference (NC). He started his career as a middle rung government employee.
He was later appointed as Managing Director (MD) of J&K State Industrial Development Corporation (1984-1988) and subsequently headed JKTDC. In between he was abroad for a long time. In 1996, Khan was appointed as the chief executive of J&K Bank where he later assumed charge of chairman.
Sources assert that CVPPPL is more worried about completing negotiations over cost of the project which has been put at Rs. 9000 crore with the consortium which has won the tender bid and has preferred not to take even primary steps towards constructing road to the project site. Sources said that a single lane road goes to the project site. They added that taking heavy machinery and other necessary equipments to the project site would not be possible if macadamised road is not built.
Sources further said that onus is more on facilitating families and relatives of various officials working in CVPPPL. They said that a thorough financial audit of the company would help in understanding which way the finances are going. Sources disclosed that air travel on the name of important official meetings has become a routine with even lower rung officers enjoying the ride.
They said that luxurious vehicles are being purchased without even looking into their need and demand. And this all is happening when the construction of hydroelectric project is still miles away. If the sources are to be believed, state has been negotiating project cost with consortium of Patel Engineering Mumbai, Turkish company Limak and Bharat Heavy Electricals Limited which emerged as lowest bidder for the Rs. 9000 crore and 1000 MW Pakal Dul hydroelectric project.
They added that the negotiations are going on since the last one month but no headway has been made so far. From the state, sources said that a team of officers who are working in Chenab Valley Power Projects Private Limited (CVPPPL) have been talking to the members of the consortium. They further added that the project would take off only after the negotiations are over and both the sides are satisfied with the outcome of the negotiations.
Despite miserable performance of the CVPPP under the present management, sources maintain that state government has failed to take any corrective measure only because of petty political interests, for which the state is being made to suffer. They added that not even a single power project has been completed during last five years.
Chenab Valley Power Projects Private Limited (CVPPPL) was constituted by the government to explore all the possibilities to tap maximum power potential at Chenab Valley which is a hub of power generation with abounded hydro power potential. Sources said the Central Electricity Authority of India has also received the complaints about the misappropriation of funds meant for generation of electricity from the Chenab Valley since 2010. |
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