SHILLONG, Dec 2: A day after $ 132.8 million (or Rs 930 crore approx) was pledged by ADB for revitalising the state’s power sector, Power Minister, James Sangma has expressed confidence that infusion of capital would be a shot in the arm of the MeECL for bailing it out of the lingering financial and management mess.
The MeECL at the moment is facing multiple challenges of clearing the dues worth more than Rs 1400 crore to different power generating companies besides clearing the terminal benefits of employees worth hundreds of crore in addition to the responsibility of clearing the salaries of the staff who are agitating on the matter.
Admitting that the liabilities of the corporation will keep on compounding over the years, Sangma said that the government had to take a stand and ultimately it has decided that there has to be infusion of capital in the Corporation in terms of improving the system.
“It is only by improving the system, we will be able to cut down on the technical and crucial losses,” the Power minister said.
He said that the government would now invest in the corporation by way of improving distribution and transmission network and by increasing the generating capacity through which the department is optimistic of resolving the issues of less amount of revenue which MeECL receives.
“It was a difficult decision but we had to decide quickly as more we linger, the problem would get compounded,” Sangma added.
Reiterating that the Corporation is taking loans which are supported by the Union government, he added that the loans reduce the stress on the corporation.
While the MeECL seems to be down and out financially, the Power Minister however is optimistic that the government through its steps they can bring a turnaround in the MeECL.
“It is definitely not a small problem but I believe this is something which can be solved and I see silver lining and hope that can bring a turnaround in the MeECL,” Sangma added.
When asked about the grievances of the employees as far as disbursement of salary is concern, the Power minister maintained the Corporation is seriously looking into this aspect which has been in existence for years.
“Many a time MeECL employees have faced the crisis when their salaries are delayed but eventually corporation comes out of it and we are working in close coordination with them,” he added.
Sangma while speaking about the financial health of the Corporation said that the crisis in MeECL has accumulated over many years and ever since the unbundling of the Corporation took place. According to Sangma, there are many things which have brought a financial setback for the Corporation and the outstanding dues to different power generating companies have added additional burden on the Corporation.
