UDAY – Ujwal DISCOM assurance
Yojna, is a scheme launched by the Indian Government to manage the operational
and financial turnaround of the DISCOMs. Today, the state of Punjab along with
Punjab State Power Corporation Limited has signed a Memorandum of Understanding
to participate in this yojna.
Piyush Goyal, the Union Minister
for State for Power, who was present at the ceremony said that this scheme will
be highly beneficial for the state, as it is a hub of farmers as well as
industrialists, and they can very well use it for their bright future. He said
that along with reviving the power sector of the state, he will also make sure
that all the old water pumps should be replaced with the new ones which are
power saving as well as technologically advanced.
On the other hand, Sukhbir Singh
Badal said that UDAY will very well take care of the entire DISCOM debt, which
currently stands at Rs. 20, 838 crore. The Punjab Government will take
possession of 75 percent of this entire amount, to take this scheme forward.
The scheme further provides for the remaining 25%, which is to be re-priced as
State Guaranteed DISCOM bonds and sold at a less price than the current
interest rate in the market. This will further help the State to save an amount
around Rs. 625 crore annually on account of restructuring of the debts.
Supporting the DISCOM financially
is one of the many benefits of the MoU. In addition to this, it will also
enhance the current operational efficiency of the DISCOMs in the State. Smart
metering will be applied for the high-end consumers, and there will also be
indexing of the power consumption of consumers and special system to map the
losses incurred. Transformers and meters will also be upgraded or changed,
wherever required to help them supply power efficiently in all parts of State.
Along with Punjab, there are a
total of seven states, which have signed the MoU under the scheme, UDAY, to
help in proper management of DISCOMs in their state and ensure better power
supply to the people of the state. It is a great step towards offering power to
the public at better rates, as this will eventually help in reducing the cost
of supply of power. In order to improve the power infrastructure, the central
government will also help the State and the DISCOMS, by offering them various
incentives from time to time.
All in all, participating in this
scheme would definitely be beneficial for the State Government, as it can save
an amount of approximately Rs. 5475 crore with the help of various parts of
this scheme. The public of Punjab will be highly beneficial with the effective
implementation of this scheme, as this will offer them with lesser cost per
unit of electricity and better supply of power to all districts of Punjab.
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