Gujarat State Electricity Company poised to make turnaround: Modi

New Delhi, Jan 8 (UNI) The public sector Gujarat State Electricity Company which was in deficit to the tune of Rs 2,500 crore just three years back is poised to earn its maidan profit of Rs 200 crore this year, said Gujarat Chief Minister Narendra Modi here today.

Participating at the Chief Minister's session at the 79th Annual General Meeting (AGM) of the Federation of Indian Chambers of Commerce and Industry (FICCI) Mr Modi said Gujarat has erased the myth that the loss making public sector companies can not be revived in the country.

He said just three years back this company was in losses to the tune of Rs 2,500 crore and the state government grant them a relief of Rs 800 crore. The company has proved that the confidence reposed on it by the State Government was a correct decision.

He said this was possible just by taking some measures like curbing the theft of power, improving the power load factor (PLF) along with the introduction of transparency and accountability factor.

This is the only company in the country which is not been privatised, has not raised its power tariffs and still earned this profit, Mr Modi added.

He said Gujarat thrives on its long term policies , transparency in its governance and industry friendly policies.

He said the state government does not believe in attracting industry by offering them incentives. The actual long term benefit for any entreprenuers is the infrastructure, which his Government has provided them, he added.

He said the state was advocating for the setting up of thermal power plants on the west coast based on imported coal which would be feed to the National Power Grid. Finally the Centre has given its clearence for one such mega power project of 4,000 mega watts and very soon some more such projects were expected to be cleared by the Centre.

Once all these power plants are commissioned than there will be no dearth of power for the industry as well as for the general consumers which will ultimately benefit the people and the economy, he said.

He said Gujarat is going to be the second state in the world to have the honour of having double decker train track being developed up to Jaipur in Rajasthan extend up to Bhatinda in Punjab provided the Centre gives the necessary support.

The government has invited all land locked state to set up their exclusive ports in Gujart to improve their export performance.

He said on the labour front their was zero man days loss during 2006-07 and this is a big acheivement.

In order to speed up the process of industrialisation the state government has set up 275 "One day Governance Centre" all over the state.

Apart from this the Gujarat has launched an innovative scheme of ''evening court" to release the burden of the regular courts. ''This has paid rich dividend as since its inception in late November last year over 22,000 cases have been solved, Mr Modi added.

He called upon the entreprenuers to invest in Gujarat. Mr Modi said, "you look at Gujarat and Gujarat will feel you".

UNI