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Centre pushes Haryana to fast-track listing of power utilities
Union power ministry asks state to clear pending approvals and expedite the stock exchange listing of its state power utilities to boost financial health and transparency.
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Chandigarh: The Union power ministry has asked the Haryana government to expedite the proposed listing of its state owned power distribution companies for enhancing the financial sustainability, operational performance and corporate governance of the state’s power sector.
Listing a government owned power company on the stock exchange means its shares can be bought and sold by the public and investors.
In an October 19 communication, Union power secretary Pankaj Agrawal wrote to Haryana chief secretary Anurag Rastogi, seeking his personal intervention to resolve the pending issues and complete the necessary approvals for listing the state’s power sector companies.
The communication said that the roadmap for listing was also discussed at the Conference of Power Ministers of States and Union Territories on November 12, 2024. Since then, several states have initiated the listing process, it said.
The Union power secretary said that listing of state-owned power utilities can also help attract investment, raise capital for modernisation and reduce dependence on state budgetary support. This will strengthen the long-term financial health of the sector.
“In this regard, UHBVNL, DHBVNL, HPGCL and HVPNL in your state are eligible for listing. During the recent review meeting, it was informed that the separate distribution company for agricultural consumers is yet to be fully operationalised. Further, the appointment of a consultant by HPGCL and HVPNL for taking the listing process forward has been pending for a considerable period and requires expeditious action,” the Union power secretary wrote.
Requesting an early resolution of the pending issues and completion of the requisite approvals and processes for these utilities, the communication said that utilities also be advised to finalise an activity-wise roadmap for the listing process and share the same with this Ministry. As an early proponent of listing, Haryana can set an example in governance and transparency, it said.
