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Discoms cutting losses, will take 2 years to break even: Official
New Delhi, Jan 8 (IANS) State electricity distribution companies (discoms) that have adopted the Centre’s Uday debt restructuring scheme are on the way to recovery from accumulated losses and should be able to “break even” in around two years, a senior government official said on Monday.
Power Secretary Ajay Kumar Bhalla told BTVI in an interview here that the discoms had brought down their aggregate technical and commercial (AT&C) losses since the Centre’s Ujwal Discom Assurance Yojana (Uday) for debt restructuring had been in operation for a year and hoped to “break even” by the remaining two years of the scheme.
“The results of Uday during fiscal 2016-17 have definitely been promising, the discoms’ AT&C losses have come down,” he said.
“Besides, their energy build-up has gone up..it has grown by over 9 per cent. Once the billing losses are reduced and the cost of power purchase goes down, discoms’ will certainly reduce their losses,” he said.
“The Uday trajectory envisages a three-year time frame. The first year is over, the second is going one and by the end of the third the discoms hope to break even,” he added.
Bhalla said that as part of their efforts to reduce losses, the discoms are regularly “filing petitions with the regulator for tariff revision”.
“UP (Uttar Pradesh) has done so recently. So tariff increases and revisions are taking place regularly.
“We are also promoting metering..not only simple metering but also smart and prepaid,” he added.
State-run Energy Efficiency Services Ltd (EESL) has tendered for buying smart meters in bulk for use in Uttar Pradesh and Haryana, the Secretary said.
“Presently, the various parameters on discom performance is showing improvement, but losses have not gone away. They will take another 2 years to do it,” Bhalla added.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.