The AP Genco has recorded profits for consecutive fourth year. It has fetched Rs. 401 crore profits for fiscal year 2011-12. Addressing the media at Genco office, MD K Vijayanand has gave an explanation over the allegations on coal agreements. He has said that no irregularities took place while striking deal relating to coal. He has said that while 27.80 tonnes of coal was necessary for electricity projects, 234 million tonnes linkage was there with Mahanadi Coal Fields.
He has said four tonnes of coal was borrowed from Singareni and 1.6 million tonnes of coal was imported from foreign countries. Further, he said tenders were given only to government bodies and co-operative societies. He has also said that AP Genco is purchasing one ton of coal for only Rs. 5,532 while neighboring states such as Tamilnadu, Karnataka, Maharashtra and West Bengal are purchasing for Rs. 7,3225, 6180, 5831 and 6300 respectively.
He has said that Genco witnessed profits since it increased the manpower and saved the fuel thereby fetching profits. It is a good note that Genco fetched profits but a common man will not be happy with these figures. People will be happy only when there are no frequent power cuts. These statistics will not play big in aam aadmi’s dictionary.
