Balco strike called
off
New Delhi: The protracted Balco strike has been
called off, and workers will resume work from Wednesday. This follows a signing of
an agreement with the management, which includes a two month wage in advance, to be
adjusted against salary later, no retrenchment, retention of existing services rules and
conditions, no victimisation, a quick wage revision, and a VRS scheme for office staff and
workers.
The workers had gone on strike protesting the divestment of government holding in Balco to
Sterlite, for Rs 551 crores.
The Chattisgarh government
also came in for censure from the Supreme Court, which found fault with it for being
discriminatory on the issue of the land deed with Balco. While the Chattisgarh government
had gone ahead with cancelling the land deed with Balco, on the grounds that it was tribal
land and could not be leased to private enterprise, it had permitted two other private
companies, Daewoo Power and Essar Steel on similar land. The state government maintained
that notices would be sent to these two companies as well.
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MSEB
to levy penalty on DPC on non-delivery
Mumbai: The Maharashtra State Electricity
Board is all set to slap a Rs 1,140-crore penalty bill on Dabhol Power Company, for
failing to meet its commitment.
As per the power purchase agreement
signed between the MSEB and Enron, DPC is obliged to generate full load capacity within
three hours after the 'cold start', or pay penalty for any failure, the cumulative sum not
exceeding the annual capacity charge of Rs 1,140 crore paid by MSEB to DPC. If the DPC
achieves only a part of the declared capacity, that capacity is taken as the capacity
available over the previous 14 days.
DPC had failed to achieve the capacity within
the stipulated time on three occasions, in January, February and March. Accordingly, it is
due to pay a penalty of Rs 1,140 crores, which is inclusive of the Rs 401 crores penalty
slapped on it for the January lapse, now under international arbitration.
MSEB is of the view that since it bears a
steep capital cost of Rs 94 crore per month, it is entitled to the full load capacity as
required, and DPC has to pay for its non-availability.
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