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Amaravati: Minister Balineni Srinivasa Reddy rubbishes false propaganda
The Minister for Energy, Balineni Srinivasa Reddy said that there was no truth in the speculation that, non-conventional energy companies are heading for international arbitration, in a statement on Wednesday.
Amaravati: The Minister for Energy, Balineni Srinivasa Reddy said that there was no truth in the speculation that, non-conventional energy companies are heading for international arbitration, in a statement on Wednesday.
He told that no deal has been cancelled with any company and procurement of electricity was not stopped from any company with which agreements are made.
"We proceed as per the law and payments are being made as per the directions of the High Court and we will implement the decisions of ERC as directed by the High Court" said Reddy.
The Minister added that the Government has to pay arrears not only to non-conventional fuel companies, but also to other Current companies and more than 18,000 crore arrears have to be paid for last 16-18 months.
"TDP president N Chandrababu Naidu is responsible for the current situation and he doesn't have eligibility to talk about power sector in the state" said the Minister.
The Minister said that the state Government asked the Central government for subsidized loans to pay these arrears and the request is under the consideration of Central Government.
"Chief Minister YS Jagan Mohan Reddy is implementing non-corrupt and transparent policies and there will be a resurgence of power sector with his policies" said the Minister.
