Trade, industry leaders call for action against power distribution firm

Ranchi: At a public hearing conducted by the Jharkhand State Electricity Regulatory Commission (JSERC) here on Thursday, industry and business leaders alleged that Jharkhand Bijli Vitaran Nigam Ltd (JBVNL), the state-owned power distribution company, was trying to hike energy tariff rates only to shield its inefficiencies and wrongdoings. The public hearing was convened to garner public opinion on JBVNL’s business plan and multi-year tariff proposals for the period 2021-2022 to 2025-2026.
“The petitions submitted by JBVNL ought to be rejected outright. JBVNL, formed as a separate company in 2013 and commenced operations in 2014, is on the brink of disaster with cumulative losses aggregating Rs 6,258 crore-plus. Its annual accounts have been audited by its statutory auditors though it has not been audited by the Comptroller and Auditor General (CAG) office, as required under the Company’s Act,” Ashok Bihany, executive member, Singhbhum Chamber of Commerce and Industries, Jamshedpur, alleged.
Ajay Bhandari of Federation of Jharkhand Chambers of Commerce and Industries, Ranchi, alleged that the state-owned power distribution company, is “beyond redemption”.
“JBVNL flouts JSERC directives and even goes to the extent of flouting high court directives. Directives by JSERC to pay interest on fixed deposits of consumers taken by JBVNL, remains unpaid. Strong action is needed to be initiated by the regulatory commission against erring JBVNL officials,” Bhandari said.
However, R K Agarwal, general manager (finance and accounts), JBVNL, refuted all the allegations.
“We are deeply hurt as gentlemen in this auditorium are calling us notorious. All accounts submitted by JBVNL have been duly audited by CAG. The CAG reports have also been submitted to the regulatory commission. We work 24x7 only to keep the state lit up. Our resources are limited. Our hardware needs an upgrade. We are trying our best,” Agarwal added.
PK Srivastava, general manager, Ranchi, JBVNL, assured that all applications for new high-tension connections, would be complied within 7 days.