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AAP govt pushing PSPCL into bankruptcy, owes it ₹9,000 cr: Sukhbir
Shiromani Akali Dal (SAD) president Sukhbir Singh Badal alleged the day-to-day functioning of PSPCL has been handed over to a Bangalore-based private company as it is being pushed into bankruptcy
Shiromani Akali Dal (SAD) president Sukhbir Singh Badal on Friday said the Aam Aadmi Party (AAP) government had endangered the farm and industrial economy of Punjab by driving the state’s power utility Punjab State Power Corporation Limited (PSPCL) to bankruptcy by denying reimbursements against free-power supply and forcing it to take loans to cover the expenditure of ₹7,000 crore.
SAD president alleged the day-to-day functioning of PSPCL has been handed over to a Bangalore-based private company.
Terming these developments disturbing, the SAD president said, “If this situation continues, it would lead to a catastrophe.”
“The mismanagement of PSPCL is leading to widespread cuts even during winter months when the demand is low. Since the corporation has not undertaken any exercise to cater to the increase in demand in summer, particularly during paddy transplantation season, it could put the paddy crop at risk,” he added.
Asserting that CM Bhagwant Mann was letting PSPCL go into a downward spiral, Badal said the government is not reimbursing it for the free power being supplied to farmers.
He said the backlog of these payments runs into around ₹9,000 crore. “Besides this, the government has under estimated expenditure on power subsidy by ₹7,500 crore. This is why PSPCL is being forced to take periodic loans with the latest loan of ₹500 crore being taken recently.”
He also asked the CM to fill all vacancies in the corporation besides releasing funds for repair and maintenance works on urgent basis.
