In a month’s time, the city’s electricity management will be in a private company’s hand with the Union cabinet giving its nod to the ₹871-crore bid made by a private company in August last year.
The electricity department will now be bundled into a company and its shares transferred to the private company.
Stating that the legal and technical formalities are left to complete the process of power privatisation, UT adviser Dharam Pal said, “The consultant (Deloitte) for the entire process is chalking out the plan for conversion of the department into a company. Thereafter, agreements, including share agreement, will be signed and shares of the newly created company will be transferred to the private company. The entire process is likely to take another month.”
