TG-Transco Rules Out Stake Sale, Says No Privatisation Decision Taken
TG-Transco has denied reports of stake dilution or privatisation, clarifying that only a financial advisory study is being considered.
The Transmission Corporation of Telangana Ltd (TG-Transco) has dismissed reports suggesting that the State's power utilities are preparing to offload stake or move toward privatisation, stating that the government has taken no such decision.
In an official statement, the utility said it has not decided to sell any stake or transfer any of its assets to private companies or individuals. It also reiterated that no call has been taken on disinvestment in Transco or on floating a public issue.
TG-Transco clarified that what is actually under consideration is the appointment of a financial adviser to examine the finances of the power utilities and recommend ways to strengthen them. The suggested measures include easing the burden of high-cost loans, restructuring debt on better terms, and improving working capital and credit ratings.
Even on this count, the utility said, no firm has been appointed as a consultant. It added that any suggestion emerging from such a study would remain only a recommendation and would not amount to a government decision.
With no privatisation decision on the table, the statement said, there is no question of any impact on free power supply to farmers or on the subsidies extended to various categories of consumers.
TG-Transco further noted that any decision on disinvestment or a change in the government's shareholding in a power utility is a policy matter for the State Government as the owner, and that no such decision has been taken. The government, it said, has been taking several steps to strengthen the power sector and place the utilities on a firmer financial footing.