CAG pulls up hyrdo-power PSUs for project delays
The functioning of state-run power companies has come under strong criticism from the Comptroller and Auditor General (CAG).
The CAG has faulted NHPC, THDC, SJVN and NEEPCO for poor implementation of their hydro power projects, resulting in Rs.14,700 crore cost over-runs.
In its report tabled in Parliament on Friday, the CAG has stated that delay in implementing 16 hydro power projects by power PSUs leads to cost over-runs of Rs.14,700. “Delay in execution of 16 projects by four Central public sector enterprises (CPSEs) resulted in revision of their initial approved cost of Rs.30,005 crore to Rs.44,712 crore. In seven completed/ongoing projects, the cost over-run was in the range of 53 to 148 per cent,’’ the report titled “Capacity expansion in hydro power sector by CPSEs for the year ended 2012’’ states…