SHILLONG, Dec 7: At a time when MeECL is embroiled in utter financial stress, documents obtained through RTI have revealed that the Corporation’s annual expenditure overshoots its income by over Rs 640 crore.
An RTI filed by a group of journalists revealed that the total expenditure of MeECL from April, 2019 to March, 2020 was around Rs 1458.70 crore while the total revenue earned in the same period was Rs 818.60 crore.
The Corporation is presently facing a daunting task of clearing dues worth more than Rs 1400 crore to different power generating companies.
In addition, MeECL also has to pay salary and other benefits to its staff.
However, Power Minister James Sangma seems optimistic that the Corporation would be able to bail out of the situation through infusion of capital in terms of technology.