Telangana CM Revanth Reddy Questions Surge in Power Department Debt of Rs. 85 Thousand Crores
Hyderabad, December 8: Chief Minister A Revanth Reddy led a high-level review meeting at Dr. BR Ambedkar Secretariat to address the escalating debts of the power department, which have reached Rs. 85 thousand crores. The meeting saw the participation of various officials, including Ministers Uttam Kumar Reddy, Ponnam Prabhakar, and Ponguleti Srinivas Reddy, among others.
During the meeting, officials presented a detailed status of the power sector through a comprehensive presentation. The current debt stands at Rs. 81,516 crores, and projections indicate an increase by another Rs. 11 thousand crores by May 2024. Factors contributing to the mounting debt include coal prices, green energy cess, and employee salaries. Additionally, it was revealed that Rs. 30 thousand crores were spent on electricity procurement, and the government did not provide Rs. 12,500 crore during the ARR.
Chief Minister Revanth Reddy voiced several concerns during the review, questioning the silence of officials on various matters. He specifically inquired about the funds allocated for the construction of the Yadadri Thermal Power Station (BRTPS) and the diversion of over Rs. 30 thousand crores for Kaleshwaram projects. The delay in the construction of VTPS and the utilization of loans from financial institutions for additional power plants were also highlighted.
Furthermore, the Chief Minister instructed officials to compile a comprehensive report on the status of electricity before 2014. He emphasized the need for a white paper on the previous government’s financial discipline in the electricity sector, seeking details on fund sources, expenditures, fund diversions, and the reasons behind the mounting debts.
However, notable absence in the review was Devulapalli Prabhakara Rao, former CMD of TSTGENCO and Transco, who recently resigned from his post. Despite the CM’s order to include him in the first cabinet meeting, Prabhakara Rao did not attend the review meeting. He clarified that he did not receive any information or invitation from the Chief Minister’s Office regarding the review.
