Digvijaya Singh seeks Rs 5k crore for hydro power project in Madhya Pradesh

Congress general secretary Digvijaya Singh has sought a special package from Prime Minister Manmohan Singh to revive a stalled Rs 5,000-crore private sector hydro-electricity project, launched during his tenure as chief minister of Madhya Pradesh in the early 1990s.

Blaming the environment ministry and state-run financierPower Finance Corporation for the problems plaguing Shree Maheshwar hydel power project, Singh has told the prime minister that the country has lost Rs1,500-crore of clean energy due to the delays to the project and is losing Rs1.5 crore with every passing day – terming this a “criminal” loss that “needs to be arrested forthwith”.

However, instead of asking for the PM-led Cabinet Committee on Investments to intervene, Singh has urged the PM to hand over the task of reviving the cash-strapped project to the National Manufacturing Competitiveness Council (NMCC) — a think tank set up in 2004 to recommend policies to boost the manufacturing sector.

The power ministry had already brought the project’s problems under the aegis of the Cabinet Committee on Investments, set up to resolve red tape hurdles facing large investment projects, for apossible resolution in late 2013. Following the request from the Congress veteran, it has been decided to consult NMCC in untangling the issues plaguing the project, said two officials aware of the development.




SOURCE: http://economictimes.indiatimes.com/


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