The Comptroller and Auditor General (CAG) of India has rapped the Karnataka Power Transmission Corporation Limited (KPTCL) for delays in construction and commissioning of 20 sub-stations between 2007 and 2012 resulting in loss of energy to the tune of Rs 352 crore.
The CAG report on public sector undertakings for the year ended March 2012 tabled in the Legislative Assembly states that the delays also resulted in interest charges of Rs 119.66 crore on idle capital deployed.
The report notes that KPTCL purchased 540 transformers during the period 2007-12 and 492 of them were installed. Commissioning of 357 (value of transformers: Rs 641.52 crore) of the 492 transformers was delayed for periods ranging between three months and 49 months.
The KPTCL, during the five years under review, mobilised Rs 7,855 crore by way of capital and borrowings and utilised only Rs 6,972 crore on capital expenditure. The Corporation failed to draw power from the newly commissioned generating stations for long periods, as evacuation facilities were not put in place, the report notes.
Performance audit
In its performance audit on the modernisation of canal system in Bhadra reservoir project of Karnataka Neeravari Nigam Limited, the CAG has observed that the project was formulated in 2001 to irrigate a command area of 1.05 lakh hectares, including the tail-end achkat of about 9,118 hectares. But, supply of water to the tail-end area of about 2,132 hectares continued to be affected even after spending Rs 1,003 crore.
The CAG has noted that turnover of public sector undertakings (PSUs) declined by 16.88 per cent in 2011-12 compared to the previous year.
The state PSUs registered a turnover of Rs 34,490 crore for 2011-12, which was equal to 7.94 per cent of the state gross domestic product. The PSUs had accumulated a profit of Rs 1,368 crore as per their final accounts.
“The turnover declined by 16.88 per cent over last year's figures, which led to lower contribution to the state GDP,” the report states.
The CAG has observed that memorandum of understanding for exploitation of iron ore from Thimmappanagudi reserves following an agreement with Mysore Minerals Limited and Jindal Vijayanagar Steel Limited resulted in heavy loses to the former.
“During 2000-2001 to 2009-10, 9.25 million tonnes of iron ore fines valued at Rs 1,052 crore was mined from Thimmappanagundi Iron Ore Mines, for which the MML got an amount of Rs 63.17 crore by way of premium at the rate of six per cent on the market price; and JSW got a benefit to the tune of Rs 876.90 crore because ore was supplied to them at transfer price,” the report states.
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