Painting a grim picture of the power sector, Haryana Government has said that State-owned power generation and distribution companies have accumulated a massive debt of Rs38,345 crore in the last 10 years.
These firms have piled up a loss of Rs27,333 crore in the past one decade, as per White Paper released by Chief Minister Manohar lal and Finance Minister Capt Abhimanyu on Saturday.
Unfolding the broad contents of second part of White Paper, Haryana Chief Minister Manohar lal said in the last ten years, the losses of state owned Haryana Power Generation Corporation increased by 500 per cent and debt by 200 per cent.
likewise, the losses and debts of power distribution companies Uttar Haryana Bijli Vitran Nigam and Dakshin Haryana Bijli Vitran Nigam increased by 2,600 per cent and 1,900 per cent respectively.
Haryana Finance Minister Capt Abhimanyu said Haryana Power Generation Corporation limited (HPGCl) had a cumulative loss of Rs87 crore in 2004-05. This loss increased by 500 percent to Rs438 crore in 2013-14. Since 2004-05, the company has remained in profit for four years and in losses for six years.
The Company had a total debt of Rs2,467 crore as on March 31, 2004, which has increased over 200 per cent to Rs5,748 crore as on March 31, 2014. He said that similarly, the debt of the Haryana Vidyut Parsaran Nigam limited (HVPNl) Company stood at Rs2,493 crore as on March 31, 2004 and this increased to Rs4,398 crore as on March 31, 2014.
The two companies together have an accumulated debt of Rs10,146 crore in 2013-14, he said. The cumulative losses of both the companies together increased by 2,600 per cent from Rs1,030 crore in 2004-05 to Rs26,912 crore in 2013-14. The accumulated debt of both companies together increased from Rs1,458 crore as on March 31, 2004 to Rs28,199 crore as on March 31, 2014.