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Friday, February 9, 2007

IT’S MY RIGHT: Industry uses RTI for details of power purchase bids

New Delhi: The Institute of Chartered Accountants of India (ICAI) has decided to defer introduction of Accounting Standards (AS) 15 due to practical difficulties faced by the industry. The AS-15, which concerns employee benefits, will now come into effect for accounting periods commencing on or after December 7, 2006 instead of April 1, 2006. IT IS not only non-government organisations and human right activists who are using the Right to Information (RTI) Act, 2005, to avail information from the government. The Federation of Gujarat Industries (FGI) has requested the Gujarat Urja Vikas Nigam (GUVNL) to submit information regarding the recent bids invited for long-term purchase of power. One of the oldest industry bodies in central Gujarat, FGI has submitted a seven-point application to the public information officer, seeking details of file notings by GUVNL regarding the basis on which the recent bids were invited for long-term purchase of power. A copy of the application, which is available with ET, has been moved by one of the officials of FGI. Gujarat is the first state in India to implement the new tariffbased policy introduced by the Central Electricity Regulatory Authority (CERC). Out of the bids in three categories, GUVNL is yet to take a decision on Bid I following more attractive offers in Bid II and III. So far, it has tied up with private companies through this new policy to avail over 3,000 mw of power. FGI office bearers did not want to comment on the issue, stating that the motive behind the application under the RTI Act was to understand the procedure through which such a major decision was taken. Talking to ET, an FGI office bearer said, “industry is the largest consumer of power and ultimately we will have to pay the bills to the power supplier. We have sought details to understand on what basis the decision was taken. We are aware of the fact that GUVNL has taken decision on the basis of a tender process at national level but members of FGI are interested in details of comparative bids and negotiations,” said the office-bearer, also a prominent industrialist. The FGI has requested GUVNL to provide a list of bidders, dates of opening and outcomes, details of reinvitations and negotiations, copies of letters of intent and agreements. FGI has also sought the board agenda prepared and submitted to the board of directors and the recommendations given by them with regards to the power purchase.
Mitul Thakkar VADODARA
Publication: Economic Times Delhi; Date:2007 Feb 09; Section:Economy; Page Number 30

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