KSEB will maintain current rates this year.
Thiruvananthapuram, December 31 - The Kerala State Electricity Regulatory Commission (KSERC) has a Kerala State Electricity Board (KSEB) asked the maintenance of tariffs and other taxes for the rest of the year 2003-04.
Briefing newspersons in the guidelines on revenue of all the requirements (CPP) and expected income from fees (ERC) for KSEB for 2003-04, Mr. MGK Pillai, chairman, C. and M. Balakrishnan, member, the Commission strongly recommended that the government grant Release Rs 375 crore to KSEB in monthly and grant permission for the maintenance of a customs amount of Rs 182.56 crore
There was also a qualified agreement on a proposal for KSEB “truing-up costs and revenues at the end of the year and the adjustment of taxes on fuel and other costs as a separate application.
In return, the board has been invited to perform truing up of all expenditure and revenue receipts. The committee would also be invited to a long time, all details regarding the various positions of support, with such data as requested by the Commission.
Past, the Commission approved a ARR of Rs 3697.83 crore ERC and the entire Rs 3141.37 crore against the RS 3850.31 crore and Rs 2924.23 crore KSEB projected for 2003-04.
The revenue deficit of Rs 556.46 crore would be full of concessions and subsidies by the government. This included the release of Rs 175 crore in cash in the form of grants, in the state budget and the granting of additional grant of Rs 200 crore.
Borrowing and debt service: The Commission noted with concern “increasingly” KSEB debt burden. The total debt at 31 October 2003, was Rs 5,043 crore against the net fixed assets the strength of the R 6000 crore, including work in progress.
The food was not due diligence in the discharge of their financial transactions, particularly in lending right. The Commission found it difficult to justify the obligations of Rs 1,002 crore on 31 October 2003, interest rates of 10 per cent to 13.5 per cent.
He had expressed serious reservations against the replacement of loans, based on a profit of Rs 7.15 crore per annum. The need for items such as interest on cash credit for operating capital and the rising cost of finance fletschte total lack of financial planning. The Commission has sought, the Committee for the preparation and presentation of a White Paper on debt service, not later than 31 January 2004, the state government, the State Board panoramic, l except himself.
Capital works: The KSEB has proposed an investment plan as a basis for Rs 500 crore for capital investment works 2003-04. But this is not any programme of work of the Commission said.
The signs say simply, the objective data and progress in the financing of expenditure to 31 October 2003. The Board of Directors seem not to have a draft of each monitoring system and control of the continuation of budgetary control was the accident.
It would appear that loans for investment projects, which has remained unused financial losses for the Committee.
The Institute should immediately introduce a system of project management, monitoring and control, and the costs and time overruns capital costs are absolutely be avoided.
The Commission custody, it would be so that the interests on loans narrowed still unused or misused.
The Commission also wanted the Board of Directors, a detailed investment plan for capital works during 2004-05.