Power assets-to-debt ratio much better than 2014: Former BRS Energy Minister Jagadish Reddy

HYDERABAD: Former Telangana Energy Minister Jagadish Reddy has clarified that the assets of power sector increased manifold after the BRS Government came to power and that there was no loss to the sector as claimed by the Government.

Responding during a short discussion on the white paper of the Congress Government on the power sector in the Assembly on Thursday, Jagadish Reddy said, "Telangana is the only State in the country which provides 24x7 electricity to consumers of all sectors. I am not claiming this. NITI Aayog had announced this in its State Energy and Climate Index."

Jagadish Reddy said that on June 2, 2014, the assets of power companies were Rs 44,438 crore and the corresponding debt was Rs 22,423 crore.

"Now those debts have risen to Rs 81,016 crore, but the value of assets too have increased to Rs 1,37,570 crore. There is no loss to due to the increase in debts as assets too have increased," he explained.

Explaining about how Telangana managed to provide 24x7 power supply during the BRS Government's rule, Jagadish Reddy said, "We decided to purchase electricity from other States and connected the grid from Chhattisgarh. Power supply and distribution systems were strengthened. We first brought 24 hours electricity to the home and commercial sector with the available system. The same was done to the industrial sector. After boosting the electricity supply and distribution system in one year, arrangements were made to provide six hours of electricity to agriculture. Arrangements were made and within two years, we were able to provide 24-hour electricity to the farmers."