DVB privatisation won't be smooth

new delhi: even before the ambitious privatisation programme of delhi vidyut board is to gain momentum, the proposal is likely to face rough weather with central vigilance commission examining complaints of alleged “irregularities� in the disinvestment process. however, highly-placed sources in dvb attributed the complaints to “disgruntled� elements who do not want privatisation of the board. “we have got so many complaints about the irregularities and lack of transparency in the privatisation of dvb. we are looking into the complaints,� central vigilance commissioner n vittal said. stating that he had already taken up the issue with delhi lt governor vijai kapoor, cvc said both mr kapoor and chairman of delhi electricity regulatory commission v k sood have assured him of transparency in the process. “kapoor and sood have written back to me stating that everything was transparent in the privatisation of the dvb,� mr vittal said. however, dvb sources said: “the complaints are handi-work of some disgrutled elements belonging to the minority union in the board.� “if the complaints were genuine then it should have been those companies, who have not been short-listed or opted out of the privatisation process,� the sources said. mr vittal, who has already convened a meeting of dvb chairman jagdish sagar and mr sood, said the specifics of the matter will be discussed in the meeting with them scheduled next week. he said the commission was also proposing to issue general guidelines to be followed by various public sector units going for disinvestment. complimenting union disinvestment minister arun shourie for his efforts in bringing about transparency in the process, the cvc said the draft copy of the guidelines have been sent to the ministry for its comments so that “we are not faced with a fait accompli.� mr vittal said the commission has received complaints regarding various types of “concession� granted to parties. when contacted, mr sagar denied having knowledge of any type of “irregularities� in the disinvestment process of dvb. “anybody can file a complaint. whenever a new process is started, there are mischievous elements who try to create problems,� mr sagar said. describing the privatisation of dvb as “most important reform� which will have far-reaching results, mr sagar said: “it is a path-breaking initiative.� allaying the fears that the dvb privatisation will go the “enron way�, the board chairman said though it is difficult to attract people to invest in something they perceive as risk. “it is a difficult job to set things right in a loss-making company immediately. the interested parties see it as a risky venture,� he said. he admitted that they were not flooded with applications by the companies interested in investing in the board. moreover, the companies, which have shown initial interest in the privatisation, have asked the dvb authorities to assess the transmission and distribution losses “properly� before asking for financial tenders. only six companies have been shortlisted after receiving their initial interest document for the privatisation bid. however, of these two have already opted out leaving four in the race including tata power and reliance.