Privatisations was always held out as an elixir.
But with huge bail-outs in steel, power and telecom, it is sad that privatisation is still touted as a mantra.
Take for instance the transfer of power facilities from the State-run Delhi Vidyut Board (DVB) to reputed corporate entities !! Alas, the situation instead of improving has only worsened. Power theft reduction and hefty power bills have kept private players and resident welfare associations (RWAs) at loggerheads.
And now, the private entity, Anil Ambani-owned BSES Yamuna Power Limited (BYPL) wants a bail-out. It is facing a financial crisis as compared to Tata owned NDPL. BYPL is facing a shortfall of Rs 900 crores for current fiscal, despite the fastest increase in bulk supply tariffs. And now wants government support to tide over the cash crunch.
However, Sheila Dixit fearing public backlash has taken a stern view of the situation and reprimanded the officials of BYPL. The Delhi government is even contemplating transferring the distribution rights from BYPL to Tata Power, whose performance by its own submission is 'slightly better'.
Where is privatisation leading us ?
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