NTPC will not purchase any stressed assets: Goyal

State-run power generator NTPC will not acquire stressed assets, but is open to operating projects owned by others as a business proposition, Power Minister Piyush Goyal said on Tuesday.

"NTPC is not taking over any stressed assets. If the banks take over any stressed assets and they run a due process, everybody will be free to participate in that, including the PSU (public sector undertaking) companies," Goyal told reporters here at an event on the Goods and Services Tax (GST) organised by the FICCI Ladies Organisation (FLO).

Responding to a question on NTPC operating stressed assets taken over by banks, the minister said: "That's a suport they provide to anybody in the public or private sector.

If any body wants to approach NTPC and is willing to pay NTPC, it's a service that they provide and anybody can avail it. It's a revenue m'del for NTPC."

In this connection, he said that the government's recent announcement on stake divestment in PSUs through the Bharat 22 exchange traded fund (ETF) is a "win-win" proposition for the generating giant.

"Shareholding of government in NTPC has been moved to exchange-traded fund Bharat-22. It is a wonderful move. It will help the government garner resources while keeping the public sector character of company intact. It is a win-win situation."

He also said the world is moving towards electric vehicles and the government is working on a road map to take India towards all electric cars.

"Only electric car by 2030...existing cars may take a little longer to replace. But the government is working on a framework to see what we can do on promoting electric vehicle. Niti Aayog is currently tasked with preparing futuristic vision for electric vehicles," Goyal said.

He also said that although hybrid cars had reduced fuel consumption a little bit, India will promote electric vehicles because it is the future.

"It (hybrid cars) reduced fuel consumption a little bit but the future is all electric cars. I had also recommended to the finance minister that it is not advisable for an intermediate technology which reduces the fuel consumption by a little bit but otherwise that is not the future, the future is all electric cars," he said.

"The world is moving towards electric vehicles and the country would promote electric vehicles," he added.

--IANS

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