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SPICL disinvestment: Sikkim BJP accuses SKM govt of flouting norms

First Published: 8th February, 2024 12:20 IST

The BJP has alleged that the disinvestment procedure was marred by severe anomalies, bypassing technical and financial evaluation process and violation of contracting principles

The BJP in Sikkim has sought answers from the ruling SKM regarding the government’s decision to divest the entire 60.08% stake of Sikkim Power Investment Cooperation (SPICL) along with its subsidiary, Sikkim Power Valley Transmission Limited (SPVTL) in Sikkim Urja Limited and sale the stake to Greenko Energies Private Limited (GEPL).

In fact, Sikkim BJP President DR Thapa has alleged severe irregularities in the entire disinvestment process. Thapa in a press statement alleged that there was no open tender process, bypassing technical and financial evaluation and violation of contracting principles.

According to Thapa, the decision to disinvest has been made without due consideration of the state government’s interest and the broader public interest.

To substantiate this, Thapa in his statement said, “In the cabinet decision, there is no mention of the benefit the state government will achieve after divesting the entire 60.08% stake of SPICL to M/s GEPL indicates bias in favour of the company. Government sells a project of Rs 14, 000 crore and the return is nil.”

Seeking a response from the PS Tamang government, DR Thapa stated, “As the government has taken a decision to disinvest the second largest hydel project of the nation, every Sikkimese has the right to know in detail about the procedures undertaken in regards to maintain transparency and accountability. We demand that the government must be answerable and should clarify to the dissatisfaction arisen among the public by the move of the state cabinet.”

Blaming the government for the damage to the 1,200 MW Teesta Stage-III Hydro Power Project owing to the glacial lake outburst flood last year, DR Thapa launched a scathing attack on the SKM government.

The Sikkim BJP president took a dig at the government over its handling of the situation before and after the calamity.

He said, “The recklessness and mockery with which this calamity has been observed by the so called stewards of our state is gravely appalling and in fact has ever loudly showcased how larger public interests and justice have taken a backseat in the face of personal gains.”

The Sikkim BJP president’s strong words against the SKM government assumes a lot significance since the BJP is an ally of the SKM in the state government. Moreover, the Himalayan state is facing elections as early as April this year. Working together as the NDA in Sikkim, the SKM has a total of 19 MLAs and the BJP has 12 MLAs in the 32-member legislative assembly.

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