Govt owes Rs 453 cr to PowerCom
Umesh Dewan/TNS

Patiala, February 22
Perturbed by Punjab Government's failure to pay Rs 453.65 crore, pending towards the Punjab State Power Corporation Limited (PSPCL) for fiscal year 2011-12, Gurnek Singh Brar, a retired superintending engineer, has filed a petition with the Punjab State Electricity Regulatory Commission (PSERC), requesting it to direct the government to clear the dues by March 31.

Brar, who has been consistently taking up matters pertaining to power tariff, has also pleaded the commission that the payment of Rs 453.65 crore should be made in cash and not through any kind of book adjustment.

Notably, in its tariff order dated May 9, 2011, the PSERC had clearly mentioned that the amount of Rs 453.65 crores (Rs 329.01 crore on account of non-refund of the excess interest paid by the PSPCL in the past and Rs 124.64 crore for balance subsidy for 2010-11) is due towards the government.

However, with just six weeks left of the current fiscal, probability of the SAD-BJP government clearing the dues seems bleak in wake of the poor fiscal health of the government and also the fact that the government is not even able to pay the advance monthly power subsidy payment of Rs 349.08 crore to the Power Corporation on time.

Though the PSPCL authorities are tightlipped over the matter, highly placed sources said the PSPCL had also brought it to the notice of the PSERC that the government was yet to clear dues amounting to Rs 453.65 crore.

Meanwhile, the petition filed by Brar, a copy of which is with The Tribune, reads, "The PSPCL in its annual revenue requirement (ARR) petition for fiscal 2012-13 filed before the PSERC has mentioned that an amount of Rs 453.65 crore remains due towards the state government".

Brar said the PSPCL had also approached the PSERC on September 12, 2011, stating that re-call/adjustment of the state government loans and the non-disbursement of the excess interest paid by the PSPCL to the government had significant adverse impact on the short-term capital requirement by the power utility.

The petition further mentioned that non-payment of Rs 453.65 crore was adversely affecting the financial health of the power utility, which was already in a vicious debt trap, with quantum of loan interest payments showing an increasing trend.

Mounting dues

Rs 329.01 crore on account of non-refund of the excess interest paid by the PSPCL and Rs 124.64 crore for balance subsidy for 2010-11 is due towards the government
Retired superintending engineer Gurnek Singh Brar has filed a petition with the Punjab State Electricity Regulatory Commission, requesting it to direct the government to clear the dues by March 31
The petition states that the payment should be made in cash and not through any kind of book adjustment
With just six weeks left of the current fiscal, probability of the SAD-BJP government clearing the dues seems bleak in wake of its poor fiscal health