TGTransco denies any privatisation moves

HYDERABAD

The Transmission Corporation of Telangana Ltd (TG-Transco) has denied reports that the power utilities in the State are planning to part with some stake and privatisation and that the government has “not taken any decision on privatisation of Transco”.

An official statement from Transco stated that it has not taken any decision to sell any stake or to transfer any of its assets to private companies/persons. Reiterating that no decision was taken for disinvestment in Transco or for bringing out a public issue, the power utility has clarified that only appointing a financial adviser to study the finances of the power utilities and suggest ways to strengthen them such as reducing the burden of high-cost loans, restructuring debt on better terms and improving working capital and credit ratings was being considered.

But, no decision has been taken to appoint any firm as a consultant. Any suggestion made in such a study would only be a recommendation and would not amount to a decision by the government. “As no decision has been taken on privatisation, there is no question of any impact on free power supply to farmers or on the power subsidies being given to various categories of consumers”, the official statement said.

Any decision regarding disinvestment or change in the government’s shareholding in any power utility is a policy decision of the State Government as the owner, and no such decision has been taken. The government has been taking several steps to strengthen the power sector and to put the power utilities on a stronger financial footing.