Cabinet approves privatisation of electricity distribution in Dadra Nagar Haveli and Daman Diu
New Delhi Nov 24 PTI The union Cabinet on Wednesday approved the formation of a special purpose vehicle SPV to privatise electricity distribution business in the union territory of Dadra Nagar Haveli and Daman Diu The Union Cabinet chaired by Prime Minister Narendra Modi also approved the sale of equity shares of the newly formed company to the highest bidder and formation of trusts for serving employees liabilities The Cabinet has approved the formation of a SPV to privatize the electricity distribution business in the Union Territory of Dadra Nagar Haveli and Daman Diu DNHDD sale of equity shares of the newly formed company to highest bidder and formation of trusts for serving employees liabilities an official statement said According to the statement the said privatisation process will fulfill the desired outcomes of better services to over 145 lakh consumers of DNHDD operational improvements and functional efficiencies in distribution and provide a model for emulation by other utilities across the country This will further lead to an increase in competition and strengthen the electricity industry and will also lead to recovery of unrealized dues In May 2020 the government of India had announced the AtmaNirbhar Bharat Abhiyan to make India self-reliant through structural reforms One of the key measures planned was to reform the power distribution and retail supply in UTs through privatization of the power distribution utilities for leveraging private sector efficiency in electricity distribution A single distribution company DNH-DD Power Distribution Corporation Ltd would be incorporated as a wholly-owned government company and trusts shall be formed to manage the terminal benefits of the personnel transferred to the newly formed company Transfer of assets liabilities personnel etc to the newly formed company will be done as per the Dadra and Nagar Haveli and Daman and Diu Electricity Reorganization and Reforms Transfer Scheme 2020 PTI KKS KKS DRR DRR
New Delhi Nov 24 PTI The union Cabinet on Wednesday approved the formation of a special purpose vehicle SPV to privatise electricity distribution business in the union territory of Dadra Nagar Haveli and Daman Diu The Union Cabinet chaired by Prime Minister Narendra Modi also approved the sale of equity shares of the newly formed company to the highest bidder and formation of trusts for serving employees liabilities The Cabinet has approved the formation of a SPV to privatize the electricity distribution business in the Union Territory of Dadra Nagar Haveli and Daman Diu DNHDD sale of equity shares of the newly formed company to highest bidder and formation of trusts for serving employees liabilities an official statement said According to the statement the said privatisation process will fulfill the desired outcomes of better services to over 145 lakh consumers of DNHDD operational improvements and functional efficiencies in distribution and provide a model for emulation by other utilities across the country This will further lead to an increase in competition and strengthen the electricity industry and will also lead to recovery of unrealized dues In May 2020 the government of India had announced the AtmaNirbhar Bharat Abhiyan to make India self-reliant through structural reforms One of the key measures planned was to reform the power distribution and retail supply in UTs through privatization of the power distribution utilities for leveraging private sector efficiency in electricity distribution A single distribution company DNH-DD Power Distribution Corporation Ltd would be incorporated as a wholly-owned government company and trusts shall be formed to manage the terminal benefits of the personnel transferred to the newly formed company Transfer of assets liabilities personnel etc to the newly formed company will be done as per the Dadra and Nagar Haveli and Daman and Diu Electricity Reorganization and Reforms Transfer Scheme 2020 PTI KKS KKS DRR DRR
