Maharashtra: Reduce power arrears, purchase costs, distribution losses to improve finances, says MSEDCL MD Vijay Singhal
MUMBAI: “Reducing electricity bill arrears, power purchase costs and power distribution losses should be our three-pronged approach to improve finances at Maharashtra State Electricity Distribution Company Limited (MSEDCL) and curtail huge losses faced by it lately,” said managing director Vijay Singhal at an event at Prakashgad, the power firm’s headquarters, in Bandra on Wednesday.
His statement came on the heels of a review meeting chaired by chief minister Uddhav Thackeray and attended by a dozen cabinet ministers a day earlier to find a solution to the ever-mounting losses of MSEDCL.
The power firm’s financial crisis has deepened with its cumulative arrears due to non-payment of bills surging to Rs 73,879 crore and debt rising to Rs 45,440 crore.
