To avail the Union government proposed bailout package for restructuring the ailing power distribution utilities, the Haryana Power Distribution Utilities (Uttar and Dakshin Haryana Bijli Vitran Nigam) is expeditiously working on its plans. Talking to a business newspaper, the Chairman and Managing Director of the Utilities Devinder Singh said that short-term liabilities of the Haryana discom as on March 31, 2012 stood at Rs 18,000 crore.
It was imperative to comply to the pre-requisites laid down by the Government of India to seek the funds from the Centre and State government to restructure the short-term liabilities of the State utilities. The State government has approved to contribute 50 per cent of the total amount of funds required to meet the deficit but the cabinet approval is yet to come.
After the approval of State cabinet, the proposal would be sent to the Union government for its pursual. Meanwhile, the finance department of Haryana is engaged in finalising the exact amount of the state’s contribution.
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