When politically hostile Gujarat shines!

Ahmedabad, 20 March 2013

This Economic Times report reveals that the Power ministry of India hurriedly cancelled a ceremony to felicitate the top-ranking distribution companies after four utilities from Gujarat emerged as the best among the 39 that were assessed.

The report says, The power ministry had earlier written to Gujarat discoms, saying they would be felicitated. Following this the Managing Directors of Gujarat discoms went to Delhi to attend the event organized by the Power Finance Corp where Power Minister Jyotiraditya Scindia was scheduled to felicitate the winners after Icra and Care Ratings ranked state utilities from 20 states for their credit-worthiness.A utility from Maharashtra was the only one from a Congress-ruled state to make it to the top 10.

ICRA and CARE took note of very high operational and financial performance capabilities of the utilities from Gujarat and graded them as ‘A+’. Companies of Maharashtra and West Bengal were graded ‘A’, followed by 11 entities from Karnataka, Kerala, Himachal Pradesh, Andhra Pradesh, Chhattisgarh and Punjab with ‘B+’ grade for moderate operational and financial performance.

Also read this example regarding JnNURM – JnNURM:Gujarat’s performance creates challenge for centre!