Current Affairs

Narvekar Trains Guns On Reliance Power Purchase

Terming it a scam, former Finance Minister Dayanand Narvekar accused the government of wasting public funds in paying huge amounts for power purchased from Reliance Power plant as it was being charged at an exorbitant rate.
He said that while the book value of the power purchased from the company was Rs 175 crore, the government had paid Rs 1,300 crore and further lambasted the government for not re-negotiating the purchase price while giving the company the permission to increase its capacity from 50 MW to 100 MW.

He suggested that the government immediately renegotiate the purchase price and advised that the government stop purchasing power from the company if it is not willing to reduce the price. He pointed out that initially, it was agreed to purchase power from the company at Rs 2.50 per unit and presently while the Goa purchases power from NTPC at Rs 2.50 per unit, Reliance is being paid Rs 11 per unit.

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