Punjab chief minister: Efforts to bring down PSPCL's debt showing results

PATIALA: Punjab Chief Minister Captain Amarinder Singh Minister said on Monday that despite having inherited a huge debt of over Rs 31000 crore, the Punjab State Power Corporation Limited (PSPCL) is now on the track of financial revival as measures being taken by the corporation and the state government were strengthening its financial health.

The Chief Minister who was here to handed over appointment letters to 25 of the 3683 candidates recruited by PSPCL under the ‘Ghar Ghar Rozgar and Karobar’, said the corporation was now buying cheaper power by signing new purchase agreements with sources outside the state and selling its surplus power at increased rates in the open market, which was also helping the PSPCL to consolidate its financial standing.

Showing confidence in the government’s decision to provide subsidised power to the state industry, the CM said the measures had started yielding results as around 100 industrial units that had been shut down have now been revived.

Captain Singh, who had recently given a go-ahead to the project to install meters at agriculture power connections and paying subsidies directly to farmers instead of the power corporation, drew the attention of the state farmers towards conserving water and use of energy efficient motors in view of the declining water table.

The CM also said the ‘Ghar Ghar Rozgar and Karobar’ campaign had been a huge hit in Punjab as more than 1.65 lakh youth got jobs or started their own businesses after his government came to power, adding that they were committed to providing more jobs and vacancies that exist in various state departments.

He said despite having inherited huge financial burdens, the government had turned the wheel on the path of financial revival, besides ensuring implementation of farm debt waiver scheme, which would be completed by November, this year.

Health Minister Brahm Mohindra said two key poll promises made by Captain Amarinder Singh in the election manifesto – farm debt waiver and a job for every household – were on track.

Forest Minister Sadhu Singh Dharamsot termed the occasion as another step by the Chief Minister towards fulfilling the aspirations and hopes of the people of Punjab. Former Union Minister Preneet Kaur congratulated all the new recruits. Power Minister Gurpreet Singh Kangar said fresh blood in PSPCL would contribute to further consolidate the power corporation.