Ntpc Seeks Simpler Norms, Turnover Up 22%

National Thermal Power Corporation wants the government to simplify procedures to curb delays in firming up its investments and allow its board to take quick decisions on the way to becoming a global player.

Addressing a press conference in New Delhi yesterday, NTPC chairman Rajinder Singh said the corporation although it was in good financial health required quick decision-making to compete in the international market.

The corporation one of the nine public sector undertakings identified by the government for becoming global giants plans to increase its generation capacity by 6,270 mw during the ninth plan.

Singh said the corporation registered a turnover of Rs 10,440 crore in 1996-97, an increase of 22 per cent over the previous years turnover of Rs 8,544 crore. It earned an estimated profit of Rs 1,646 crore, up from Rs 1,353 crore in the previous financial year.

The return on capital employed and the return on net worth during 1996-97 were 11.43 per cent and 12.03 per cent, respectively.

Painting a rosy picture for NTPC, despite the entry of private companies in the power sector, Singh said the corporation had submitted a memorandum to the government last month seeking more powers to make corporate decisions.

The corporation is negotiating with Coal India Ltd for a commercial agreement regarding supply of coal. Liquefied natural gas (LNG), Singh said, held a promise for the future. The corporation is trying to ensure its steady availability.During 1996-97, power stations of NTPC generated 97,609 million units of electricity, registering an increase of 4.43 per cent over the 93,468 million units generated in the previous year.

NTPCs coal-based stations (excluding those in the eastern region) recorded a plant load factor of 84.5 per cent and a high availability of 87.5 per cent. However, the stations in the eastern region recorded a dismal PLF of 46.32 per cent.

The chairman expressed the hope that the corporations outstandings, which totalled Rs 4,928 crore at the end of 1996-97, against Rs 4,047 crore in the preceding year, would go down considerably, following the cabinet decision to sell electricity to states on a cash-and-carry basis.