NTPC spent Rs 7,000 cr extra on coal import: CAG

NTPC spent Rs 7,000 cr extra on coal import: CAG

NTPC incurred additional expenditure of Rs 6,869 crore on importing coal in six years between 2010 and 2015, the Comptroller and Auditor General (CAG) said in its latest report on fuel management at the state-run generation utility’s power stations.

NTPC executives said the auditor’s conclusion was not correct as it was based on a comparison between the government-controlled price offered by Coal India and market price of fuel imported through global bidding to keep power plants spinning in the face domestic supply shortage.

“The power stations incurred extra expenditure on procurement of coal at higher cost compared to the rates notified by Coal India during the period 2010-11 to 2015-16,” the CAG said in its report tabled in Parliament on Friday. Read More…

Credit By : Energy Economics Times 

One Response to "NTPC spent Rs 7,000 cr extra on coal import: CAG"

  1. Nivedita Kumar   February 6, 2017 at 1:03 pm

    The statement made in the Report that the CAG Report somewhat supports contention by NTPC executives is not factually correct. The Report dedicates one full chapter on Import of coal (Chapter 4) where undue favours given to Adani are highlighted. Shortage of coal does not justify irregularities in import of coal.
    Please read the last chapter Conclusions and Recommendations’ and publish a correct story as soon as possible.
    Only this article has presented this concocted picture while other papers have presented their views correctly.


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