Friday, May 27, 2022
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Come See The Light

The Delhi Vidyut Board's part privatisation was long overdue. Now can it avoid the Orissa board's pitfalls?

Come See The Light
Come See The Light
outlookindia.com
-0001-11-30T00:00:00+05:53

Tata Power paid Rs 187 crore to get management control of the distribution in north and north-west Delhi, while BSES has got control of the distribution of south and west Delhi for Rs 235 crore, and central and east Delhi for Rs 59 crore. In return, the two companies will earn a return of 16 per cent on their equity, but only if they are able to reduce losses by 17 per cent within five years. If they surpass the target, they will keep 50 per cent of the additional revenues.

The new private owners will also not retrench any of the DVB employees, who will be working for the discoms. The latter will continue with the same terms and conditions as they enjoy now. The liability of retirement benefits of the employees will also be taken by the new firms.

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