Power engineers demand audit of privatised assets, impact on banks

Public-sector powermen have demanded performance audit of the privatised power assets in India and their adverse impact on the financial health of commercial banks.

Making a case against the alleged discreet privatisation of power utilities and channels, the All India Power Engineers Federation (AIPEF), representing nearly 1.5 million technocrats from the sector, today said an independent evaluation of the performance of privatised assets, their impact on consumers in terms of cost burden and customer service, and financial burden on banks was the need of hour.

AIPEF chairman Shailendra Dubey also criticised the alleged arm-twisting tactics of Union Minister of State for Power, R K Singh, who they claim had warned state power distribution companies (discoms) that they would have to hand over electricity supply business to multiple-supply licensees or franchisees in order to get central government assistance or loans from Power Finance Corporation (PFC).