Electricity Department is now corporation

Source:

Imphal, July 22 2013: Electricity Department has been converted into a corporation registered under the Company Act and the first meeting of its Board of Directors was held today.

As decided by the State Cabinet and in line with a suggestion from the Government of India, Electricity Department was registered as a corporation under the Company Act on July 15 with a view to address the pathetic power situation, informed an official source.

Along with corporatisation of the department, two companies namely; Holdco and Discom have been set up.

Holdco would handle transmission and generation sections while Discom would look after distribution.

In addition, Additional Chief Secretary RR Rashmi, Power Commissioner Rajesh Agarwal and IT Commissioner Dr Rajesh Kumar have been appointed to the Board of Directors and the Board of Directors held their first meeting today.

However, managing directors for the two companies have not been appointed nor have staff/employees of the department transferred to the companies till date.

As estimated by the department that Rs 1000 crore would be required for paying pension and laying off employees of Electricity Department, SBI Caps has been roped in to formulate a human resource plan.

Notably, Chief Minister O Ibobi appointed former Chief Secretary Jarnail Singh as his power advisor and SBI Caps was hired to make an assessment of the department’s assets.

Moreover, the State Government has also drawn up a hydro policy to enable foreign firms take hydropower projects in Manipur.

via NorthEast Calling - NorthEast India | India's No1 online News Magazine http://necalling.com/electricity-department-is-now-corporation/