The government sold power sector assets for Rs. 70,000 crore

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New Delhi: The Modi government at the Center is now planning to sell the assets of public sector power companies following the privatization of banks and LIC. The central government is preparing to go ahead with the power sector's asset monetization scheme.

Over the next five years, it plans to raise Rs 30,000 crore by selling government-owned assets like Power Grid, NTPC and Rural Electrification Corporation (REC).

In addition, 80 per cent of the proceeds from the sale of these assets is expected to be used to strengthen the transmission and distribution infrastructure of the states.

Intra-state power transmission, sub-transmission and distribution networks often have low investment, leading to large-scale technical losses and power-cuts, a senior official said.

The proposed investment is more than the Rs 3.06 lakh crore power distribution company reforms scheme to set up the power distribution sector in India. In June this year, the Union Cabinet approved a Rs 4.05 lakh crore realt-linked power distribution scheme, under which state power distribution companies will receive grants every year only when they reach the target set for the previous financial year.

If the transmission loss at the state level averages 6 per cent, the loss at the rate of 5 kW would be as high as 8 to 10 per cent. No emphasis has been placed on the construction, strengthening and upgrading of intra-state transmission and distribution networks by the states. If we do not invest in last mile connectivity then all investments made in generation and inter-state transmission system will be wasted.

A recent example of this is the power crisis in Punjab. As per the government's proposal, Power Grid Corporation of India, NTPC Limited (National Thermal Power Station) and REC Limited will raise Rs 30,000 crore by selling their projects.

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