Power sector PSUs in Maharashtra
incurred an overall net loss of Rs 3328.13 crorein 2017-18, according to a Comptroller and Auditor General (CAG)report tabled in the state legislature on Wednesday.
During 2017-18, out of the eight working state PSUs, one earned profit of Rs 814.51 crore, five incurred loss of Rs 4142.64 croreand the remaining two posted marginal profit/ loss, said the CAG report on public sector undertakings.
The profit-making PSU was Maharashtra State Electricity Transmission Company(Rs 814.51 crore), where as major losses were incurred byMaharashtra State electricity Distribution Company (Rs 3176.49 crore) and Maharashtra State Power Generation Company (Rs 929.71 crore), the report said.
Overall, power sector PSUs incurred a combined net loss of Rs 3328.13 crore(Rs 4142.64 crore minus Rs 814.51 crore) in the financial year under review, it said.
The CAG noted that the balance of investment of the state government in the share capital of the power sector PSUsincreased to Rs 88,086.99 crorein 2017-18 from Rs 0.45 crore in 1999-2000.
The present value of state government investments in these entities up to March 31, 2018, worked out to be Rs 1,18,570.22 crore, the auditor said.
The report said Maharashtra State Electricity Distribution Company made an excess payment of Rs 1.94 crore for purchase of power from a bagasse-based co-generation project due to incorrect application of energy tariff.
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