Thiruvananthapuram: The pension distribution by the Kerala State Electricity Board Limited (KSEBL) would come to a standstill next month if the State Finance department fails to release funds ahead. The new crisis comes even as the Kerala State Road Transport Corporation has been finding it difficult of late to pay salary and pension on time, inviting even a high court intervention.
The KSEBL Chairman and Managing Director (CMD) has informed the State Electricity Minister and the Finance Ministry that the Board is in a severe crisis and the distribution of pensions would be affected in August, if the Finance Department fails to pay the KESBL Rs 508.67 crore, including the budget allocation, and a share of power bill arrears of Kerala Water Authority (KWA).
The Government had agreed to pay the KSEB, the KWA’s outstanding power bills to the tune of Rs 1,326.69 crore until 2018, in parts.
By July end, KSEBL would only have a reserve of Rs 327.56 crore. It needs Rs 1,017.33 crore for its expenditure from August 1 to August 9, the KSEBL has informed the Finance Ministry. On August 2, Rs 127 crore is required for pension distribution.
Though this has been informed to the Finance Ministry many times, the department has not sanctioned or paid heed to it, and the pension distribution may come to a standstill, KSEBL’s finance section has reported to the Electricity Minister.
The KSEBL revenues are picking up slowly after the power utility bore the burden of the benefits given when the COVID-19 pandemic raged for a couple of years since early 2020.
