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Business News/ Home-page / Quick Edit |Another bailout
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Quick Edit |Another bailout

Quick Edit |Another bailout

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On Monday, the Delhi government virtually bailed out the Capital’s power utility BSES, which had run into difficulties due to its inability to pay dues to power generation and transmission firms amounting to 3,000 crore.

These concerns should have been displayed much earlier (the state government has a 49% stake in BSES) and should in no case have translated into what is effectively a bailout. If a private power firm has mismanaged its finances, that clearly is its problem. True, it would have inconvenienced residents of Delhi, but that is another matter. If inadequate tariffs were an issue, then that ought to have been settled between Delhi’s voters and its political leaders. The primary issue is the propriety of the bailout.

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Published: 27 Dec 2011, 01:02 AM IST
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