Perhaps if the “big consumers” using electricity very lavishly would have been clearing their electric dues in time and not kept the PDD parched of funds in crores of Rupees, floating Rs. 3500 crore State Bonds would have not been thought of. How can the State get power on credit with usual cost thereon and not repay the same but continue to get uninterrupted power supply, must be pondered over by the chronic defaulters owing whooping amount of dues to the PDD about which ‘Excelsior’ recently put forth the facts through these columns.
However, Jammu and Kashmir has been facing heavy financial burden including payment of 18 percent interest on arrears of power purchase bill. There was no revenue enough with the Government as there was not even 23 percent dues recovery from the consumers as also due to the gap of input cost and the realized cost which suggest that the rates too should be enhanced. However, every time the Central Government cannot be expected to rush to salvage the State Government by paying its mounting power liabilities and instead the Union Finance Ministry has given its approval to float Rs. 3500 crore worth state bonds to tide over its liquidity position to clear outstanding liabilities but the Power Development Department, as a policy must flex its muscle and keep those “powerless” who consume power bur render the Department “powerless or revenue less”.
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