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Our Bureau

New Delhi , Feb. 3

THE Government has projected an investment requirement of Rs 9,00,000 crore by 2012 to finance generation, transmission, distribution and rural electrification projects.

"Public sector investments, both by the Central Government and State governments, will have to be stepped up and a sizeable part of the investments will need to come in from the private sector," the Power Minister, Mr P.M. Sayeed, told presspersons after unveiling the National Electricity Policy, which was cleared by the Cabinet on Wednesday.

The Minister said the target was "within reach" and that investors would get reasonable returns. "Return on investment will need to be provided at par with, if not in preference to, investment opportunities in other sectors," he said. "We have to maintain a balance between returns to private investors and consumers' interests. We do not anticipate any problem in garnering the resources as is clear from progress made in the private projects in the recent past."

Mr Sayeed said that public sector investments, both at the Central and State governments, would have to be stepped up and a sizeable part of the investment would have to be brought in by the private sector.

Public service obligations such as increasing access to electricity for rural households and small and marginal farmers would have the highest priority in public finances, Mr Sayeed said. He said the Electricity Policy, which was cleared by the Cabinet on Wednesday, lays emphasis on time-bound reduction of transmission and distribution losses and advocates promotion of competition aimed at consumer benefits.

"Efforts would be made to ensure that the subsidies reach the targeted beneficiaries in the most transparent and efficient way," he said.

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