The Hindu : National : Record incentive from Power Ministry

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Wednesday, Jul 06, 2005

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National

Record incentive from Power Ministry

Special Correspondent

KOLKATA: The Union Ministry of Power has sanctioned a cash incentive of Rs. 302.76 crores to the West Bengal State Electricity Board (WBSEB) for reducing aggregate technical and commercial losses in 2003-04.

This was the largest incentive to be given to any State Electricity Board in the country since the scheme was introduced three years ago, WBSEB secretary S.K. Gupta told The Hindu here on Tuesday.

The cash incentive to promote improvement in the financial performances of the SEBs is part of the Accelerated Power Development and Reforms Programme initiated by the Ministry. The incentive is half the amount claimed as reduction in losses by an SEB.

The WBSEB claimed to have reduced technical and commercial losses by Rs. 605 crores in 2003-04, Mr. Gupta said.

The WBSEB authorities received an order stating that the amount had been credited to the State Government account on Tuesday, he said.

An incentive of nearly Rs. 73 crores was granted to the WBSEB under the scheme in the earlier fiscal, Mr. Gupta said.

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