Financial Daily from THE HINDU group of publications
Tuesday, Sep 30, 2003
Financial Daily from THE HINDU group of publications Tuesday, Sep 30, 2003 |
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Opinion
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Letters Power claims
This is with reference to the editorial "Power claims" (Business Line, September 25). The editorial has rightly pointed out that the Dabhol power project should be handed over to NTPC to be operated as a regional station. At present, there are very limited options and any solution should ensure that the plant is put to use without any further delay. On the other hand, the award in favour of GE, and award of the independent arbitration panel on the claims of GE and Bechtel are blows to national pride and credibility. The effects will be harmful and long lasting. The panel has rightly put the entire blame on the Central and State Governments. Is it still possible for the country to talk the language of fairness and equity? And can the citizens still boast of India's impeachable legal framework and law enforcement system? Strangely, the power purchase agreement in question was renegotiated by highly competent and skilled negotiators appointed by the Centre. It was claimed at the time that the team had done a wonderful job. The government gave its counter-guarantee after much deliberation and thought. Who, then, is responsible for this mess? Venkataraman. G
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