Badal govt giving undue favours to SEL running Talwandi Sabo project
Monday, 12/12/2016
http://epaper.dailypostindia.com/Details.aspx?id=169639&boxid=61872&uid=&dat=2016-12-12
Jalandhar: Punjab Congress spokesperson and former CLP leader Sunil Jakhar on Sunday questioned Deputy Chief Minister Sukhbir Singh Badal of favouring Sterlite Energy Limited (SEL) running the Talwandi Sabo Power Limited project in stark violations of the Central Power Ministry norms. Jakhar said that Sukhbir Badal should explain that why all laid down norms were violated to provide contract to SEL, a Vedanta group company in Talwandi Sabo. He said that the agreement with SEL was signed despite it not being an eligible bidder for the power project.
Addressing a press conference, Jakhar said, “As per Central Power Ministry norms, it was must that the concerned bidder should have a standard ‘Free Cash Flow’ (FCF) to bid for the project. However, despite SEL’s negative FCF growth, Deputy CM awarded the contract to this company, which hints that things were fishy”, he said. The senior congress leader said that an approximate Rs 394 crore amount was required to enter into negotiation with the state government to run the power project. “Interestingly, ever since, the PPA agreement of SEL was signed on September 1, 2008 its growth was registered in negative. From the year 2006 to 2008, SEL’s Free Cash Flow was meager Rs 26 lakh. This raises a question on Badal government’s urgency to award Talwandi Sabo project to SEL”, he added.
Jakhar also highlighted that during the current fiscal year, Punjab government paid Rs 1,500 crore as commitment charges to SEL. “As if this was not enough, Rs 950 crore penalty was imposed on SEL in the year 2010 alone”, he said. The congress leader also said that ignoring all these massive losses, the Badal government was still favouring SEL while the common man was being burdened with hike in power tariff. “Deputy CM should give clarification that why people of Punjab were being burdened and for what reasons the SEL was being favoured”, he added.
Jakhar also said that after coming to power, congress would not only cancel the agreement with SEL but also recover a massive amount of Rs 2,700 crore from all the three private power projects, which were burdening the state exchequer. “All politicians and officials involved would be held accountable for such a huge scam. We would utilize the Rs 2,700 crore on youth and the farmers in the state”, he maintained.
