[rankarstocks] The PM makes a pitch for the Power sector aka ABB, Bhel, Siemens

Monday, May 28, 2007

[rankarstocks] The PM makes a pitch for the Power sector aka ABB, Bhel, Siemens

Dr. Manmohan Singh says that the power sector does not look very promising and that India needed a crash course to raise electricity generation capacity

Alarmed over the acute power shortage in the country, Prime Minister Dr. Manmohan Singh said on Monday that for the country's Gross Domestic Product (GDP) to grow by 9-10%, electricity supply has to grow much faster. "If we expect the economy to keep growing at 9-10% per annum, we need a commensurate growth in the power supply," he said at a meeting of chief ministers on the power crisis in the country. Dr. Singh said that the power sector does not look very promising and that India needed a crash course to raise electricity generation capacity if shortages were to be eliminated by 2012. "We have not been able to make a decisive breakthrough in ensuring high and sustainable rates of growth of this sector and improving its financial health," Singh said. "The current level of losses in transmission and distribution, ranging between 30-45 percent in many states, threatens the financial health of the sector. A large proportion of these losses are due to theft. Theft is the cancer of the power sector," he said

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Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.

Nothing in this article is, or should be construed as, investment advice.

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