Reliance power would get a benefit of Rs 29,033 crore:CAG

CAG in its report said that Reliance power ltd would get a benefit of Rs 29,033 crore because of the government had allowed RPL to use surplus coal from the area allotted to sasan power plant for their projects.The CAG says that by the decision of the government a financial benefit of about Rs 29,033 crore with a present value of about Rs 11,852 to be generated into the hands of RPL. There was a mistake happened to the government ie, the allotment of the surplus coal to the RPL’s sasan power project had done benefit to RPL and a heavy loss to the government. In the past years the power ministry had allotted two blocks to the sasan power which is Moher and Moher amlohri. Then power ministry had allotted extra block to the RPL. CAG said that for the future bidding process, the developer to derive a comfort in the government action the allocation of the third block should be reviewed and take necessary action to check the loss generated to the power ministry. The report by CAG had pointed out that government needs to generate confidence among bidders for future jobs under power ministry for its equity and fairness. The government should ensure its fairness on all levels of acts.

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