Financial Daily from THE HINDU group of publications
Saturday, May 22, 2004
Financial Daily from THE HINDU group of publications Saturday, May 22, 2004 |
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Corporate
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Announcements Trading licence of Tata Power cleared Our Bureau
THE Union Government on Friday cleared Tata Power Company's trading licence, senior officials have said. As the country's largest private sector power company, TPC has no objection to supplying free power to farmers provided the state government allows explicit subsidy, Mr Firdose Vandrevala, MD, Tata Power, said. "Most poor farmers have very basic need for power. There is no problem with supplying free power to the poor farmers provided the governments are clear that they will not milk power companies dry. Besides, under the Electricity Act, the state electricity regulators will ensure that state governments provide explicit subsidies for free or low-priced power to the needy. So it should not be a deterrent to private sector investors," Mr Vandrevala said.
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