New Delhi: The Union Cabinet led by PM Narendra Modi today gave the green signal to set up a company (Special Purpose Company) to privatise power distribution business in the Union Territories of Dadra and Nagar Haveli and Daman and Diu (DNH&DD). It has also approved the formation of a trust to sell equity shares of the newly formed company to the largest bidder and meet the liabilities of the employees.

The order issued by the government said that the said privatisation process will meet the desired consequences of better services, operational improvement in delivery and functional capacity to more than 1.45 lakh consumers of Dadra & Nagar Haveli and Daman and Diu (DNH&DD) as well as provide a model for simulation by other utilities across the country. This will further increase competition, strengthen the air power industry, as well as recover the rest of the amount (unrealized dues).

In May last year, the Modi government at the Centre announced a 'Self-Reliant India Campaign' to make India self-reliant through structural reforms. To take advantage of the efficiency of the private sector in power distribution, power distribution through privatisation of power distribution utilities was among the main measures planned to improve power distribution and retail supply in the Union Territories.

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