ETF panel approves bidding document presented by UPPCL
Three new companies will be formed under the Purvanchal discom and two under the Dakshinanchal discom, with each covering both rural and urban areas
LUCKNOW The Empowered Committee of the Energy Task Force, chaired by chief secretary Manoj Kumar Singh, approved the bidding document presented by UP Power Corporation Limited (UPPCL) after detailed discussions. Representatives from the government of India were also present at the meeting.
The UPPCL will now invite bids based on the documents prepared by a transaction advisor for the takeover of power distribution in 42 districts under Agra and Varanasi discoms.
UPPCL, according to a spokesman, has been authorised to carry out further proceedings.
“The committee also directed UPPCL to assure its employees that the state government and UPPCL remain committed to protecting their interests, including service conditions, promotions, retirement benefits, and concessional power tariffs,” the spokesman said.
Employees will be offered three options: remain at their current posts with existing or better service conditions, move to UPPCL or other discoms, or opt for an attractive VRS.
The government assured that no employee would be laid off and that promotional avenues would remain intact for those opting for redeployment. Employees moving to new companies will retain or receive better service conditions, with salary revisions and DA hikes as per norms. Pension benefits will also remain unchanged and will be incorporated in written agreements.
Under the proposed reforms, 51% equity in new companies will go to the private sector, while 49% will remain with the state government. The CS will chair the new companies to safeguard the interests of employees, consumers, and farmers, while the private partner will appoint the managing director.
Three new companies will be formed under the Purvanchal discom and two under the Dakshinanchal discom, with each covering both rural and urban areas. UPPCL has been directed to submit all necessary documents to the electricity regulatory commission for further comments before finalizing the draft.
However, the UP Vidyut Kamchari Sanyukt Sangharsh Samiti termed the ETF’s approval as ‘unconstitutional’. “The consultant that prepared the bidding document is facing severe charges of fraud by submitting a false affidavit to the UPPCL,” Samiti leader Shailendra Dubey said.
