ekamber.. please dont flood mails On Mon, Sep 15, 2008 at 7:29 PM, ekam ber <[EMAIL PROTECTED]> wrote:
> The government is planning to set up a Rs 90,000-crore national > electricity fund (NEF). The fund will lend money to state electricity boards > at low rates of interest to plug transmission and distribution losses. > > A concept note, which lays down the broad structure of the fund, has listed > resources raised through disinvesting government stake in state-owned power > companies as a possible source for setting up the corpus. The government > holding in four listed power sector companies - NTPC, Power Grid, Power > Finance Corporation and Rural Electrification Corporation - ranges from 89.8 > per cent to 81.8 per cent. > > A top government official who did not wish to be identified said that it > needs to be seen to what extent the government is able divest its equity in > power sector companies. The government plans to raise about Rs 40,000 crore > as low interest credit from multilateral funding agencies such as the World > Bank and the Asian Development Bank. > > The remaining Rs 50,000 crore would be raised from various sources, > including disinvestment. Theft and pilferage losses, often referred to as > transmission and distribution (T and amp;D) losses, are as high as 40 per > cent in India. > > The total annual T and amp;D loss in India is estimated at Rs 40,000 crore. > An executive of a government-owned power company said using disinvestment > proceeds for setting up the electricity corpus would require changes in > existing norms. > > Last year, the government launched the national investment fund (NIF), > which would channelise proceeds from government divestment in all public > sector undertakings. NIF will utilise 75 per cent of its annual income to > finance select social sector schemes that promote education, health and > employment. > > The remaining 25 per cent will be used to meet the capital investment > requirements of profitable and revivable central public sector enterprises. > NIF will be operated by the fund managers under discretionary mode of the > portfolio management scheme, governed by SEBI guidelines. > > A committee headed by the Planning Commission member for power > isconsidering various aspects of the fund > > > http://in.news.yahoo.com/32/20080915/1059/tbs-govt-plans-rs-90-000-cr-fund-to-plug.html > Experience is the teacher of all things. > - Julius Caesar > > > > > > > -- Regards, velmurugan --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
