When Ranchi-based Central public sector Heavy Engineering Corporation (HEC) has been struggling for further improvement in its financial health after coming out from the purview of the Board for Industrial & Financial Reconstruction (BIFR) in August 1996, the Jharkhand government has recently added the company’s crisis by enhancing water supply charge from Rs 12 lakh per month to Rs 72 lakh per month.from August 1.
According to a source in HEC, the rate of water charge was increased by the drinking water and sanitation department (DWS) of the Jharkhand government drastically from Rs 8 per 1,000 gallon to Rs 45-50 per 1,000 gallon which resulted an extra burden on the PsU in paying Rs 70 lakh to Rs 72 lakh per month from Rs 12 lakh per month in undertaking water supply to HEC township area comprising different agencies/ residents and HEC employees.
The source said that considering the high rate of water cost fixed by the state government on HEC, the company had no other alternative, but to enhance the rate of water charges for meeting the expenditure
He said that even after the increase in the recent water charge rate by HEC, the total billing by HEC comes to Rs 61.93 lakh against the expenditure of Rs 70 to Rs 72 lakh.
Meanwhile, all opposition parties in the state capital had opposed the action of the state government for enhancing the water supply charge in the HEC township.
The troubles for the Indian banking system are likely to increase in the next 12 months due to slow economic growth and sluggish fiscal reforms. ...
Officials say telco still keen on process