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Saturday, May 22, 2004

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Trading licence of Tata Power cleared

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THE Union Government on Friday cleared Tata Power Company's trading licence, senior officials have said.

As the country's largest private sector power company, TPC has no objection to supplying free power to farmers provided the state government allows explicit subsidy, Mr Firdose Vandrevala, MD, Tata Power, said.

"Most poor farmers have very basic need for power. There is no problem with supplying free power to the poor farmers provided the governments are clear that they will not milk power companies dry. Besides, under the Electricity Act, the state electricity regulators will ensure that state governments provide explicit subsidies for free or low-priced power to the needy. So it should not be a deterrent to private sector investors," Mr Vandrevala said.

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