Power sector heads for disaster as huge capacities lie idle for want of fuel – ASSOCHAM

Apex industry body ASSOCHAM today called for an urgent intervention by the Prime Minister and sought a multi-front government action to break down all hurdles of coal supply to power units and improving the financial viability of power utilities, in wake of the several thousand MW (30,000 MW) of generation capacity lying idle in Central, private and state sectors while almost entire country is suffering from prolonged power outages and industries are forced to declare holidays due to non availability of power.

The Associated Chambers of Commerce and Industry of India said that with the RBI move to block further finances to the power sector which has over INR 1.19 lakh crores liabilities to the banks, and the states owned power utilities accumulating losses after losses, it is feared that the power sector is headed for severe crisis more so as the government had designated 2012 as the “Power for all year.”

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