Maharashtra Monsoon Session: MSEDCL to become first state-owned power discom listed on stock exchange

Representational image. File pic

MSEDCL is set to become the first state-owned power distribution company to be listed on the stock exchange, with the Maharashtra government saying the move will improve efficiency without giving up public and government ownership.

Bhiwandi power issue raised in the assembly

During the Question Hour at the ongoing Monsoon Session at the Maharashtra State Assembly, Samajwadi Party MLA Rais Shaikh demanded incentives for Bhiwandi for reducing power distribution losses from 45 per cent to 10 per cent. He also urged the government to allow multiple power distribution companies to operate in the region instead of having a single company supply electricity.

CM Fadnavis says, ‘Will check what can be done'

Replying to the demand made by Samajwadi Party MLA, Chief Minister Devendra Fadnavis, who also holds the energy portfolio, said that under the franchise model, control remains with the government and not the private company.

He rejected the demand for incentives, saying it would be unfair to other consumers as the cost would have to be recovered either from the government or electricity users. "This is not possible," he said.

Fadnavis also announced that MSEDCL will soon be listed on the stock exchange, saying the move will improve the company's efficiency while ensuring that ownership and control remain with the government and the public.