Telangana Genco paid Rs 170-crore more
The audit found that 11 PSUs incurred an aggregate loss of Rs 351 crore, and one PSU declared a dividend of Rs 129 crore.
Hyderabad: The CAG found fault with TS Genco for procuring coal at higher price over and above the linkage quantity, incurring an avoidable additional expenditure of Rs 170 crore.
“Though the Centre’s new coal distribution policy provides for 100 per cent supply as per norms, the company did not approach the Centre to bridge the gap between the normative requirement and linkage already obtained. Due to this, the company had to procure coal at higher price resulting in an additional burden of Rs 170 crore,” it said.
The audit found that 11 PSUs incurred an aggregate loss of Rs 351 crore, and one PSU declared a dividend of Rs 129 crore. Another 33 PSUs under bifurcation between TS and AP, incurred an aggregate loss of Rs 444 crore. As on March 31, 2015, there were 66 PSUs falling under audit purview.
Of these, 11 were functional in Telangana, 33 PSUs were being demerged and the other 22 were non-working PSUs (yet to be bifurcated).
The investment (capital and long-term loans) in 66 PSUs was Rs 60,233 crore. The outgo from the budget was Rs 4,264 crore for working PSUs and Rs 7,117 crore for PSUs under demerger. Only four PSUs declared a dividend of Rs 16.10 crore.