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| Despite spending crores, CVPPPL fails to take off | | | Ishtiyaq Ahmad
Early Times Report
srinagar, Jan 12: Having been set up five-years ago of being a landmark step that would speed up power generation in Jammu and Kashmir, there seems no progress made by the Chenab Valley Power Projects Private Limited (CVPPPL).
Chenab Valley Power Projects Private Limited (CVPPPL) was constituted in 2010 by the Government to explore all the possibilities to tap maximum power potential at Chenab Valley which is a hub of power generation with abounded hydro power potential.
CVPPPL was incorporated on June 6, 2011 as a Joint Venture Company of NHPC Limited, JKSPDC and PTC (India) Limited for execution of four Hydroelectric Projects namely Pakal Dul, Kiru and Kwar with aggregate capacity of 2220 MW and Dul Hasti stage two at Chenab River Basin in district Kishtwar with equity participation of 49%, 49% and 2% by NHPC, JKSPDC & PTC respectively. But the management of CVPPPL has miserably failed to complete any of these projects despite receiving crores of rupees annually as salaries.
"Despite spending crores on these projects over the years, the Corporation is on the death bed with no progress being made to start these projects in generating hydroelectricity," an official of CVPPPL told Early Times. "The Corporation is spending a huge sum on its almost 250 employees, but there has been no progress in generating hydroelectricity. It seems the Corporation was established to reemploy retired officials especially from the JK Bank," the official said.
The CVPPPL is headed by former Jammu and Kashmir Bank chairman, Muhammad Yusuf Khan.
His appointment was made on October 28, 2010 by the NC-Congress Government headed by Omar Abdullah. However, even as five long years having been passed since Khan assumed the charge, sources said the CVPPPL has miserably failed to show any progress in generation of hydroelectricity in Jammu and Kashmir. It may be mentioned here that as per the Government notification issued at the time of setting up CVPPPL, the status and perks of Mohammad Yusuf Khan are at par with chairman of the Government of India owned NHPC but not a single project has been completed in his tenure. Another former JK Bank employee Mohammad Kursheed Pandit has also been reemployed in the Corporation.
Officials said they had raised the issue with the Government and the important decisions were pending due to non-availability of Directors as no Board was in place. "But nobody is listening to us since these retired officials have strong political backing who get hefty amount salaries annually and get other benefits from the CVPPPL," the official said.
Sources said the Central Electricity Authority of India has also received the complaints about the misappropriation of funds meant for generation of electricity from the CVPPPL since 2010.
Managing Director, CVPPPL said they have got the clearance from the forest, environment, and finance departments for four projects. "But none of the projects has been started to generate hydroelectricity. We are not able to take any decision since there is no Board of Directors in place," the Managing Director told Early Times. |
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