New Delhi: India Inc is not bullish over PMO’s new initiative to fix issues of power sector. According to power sector companies, said “Two years back same kind of activity started by government but it did not bring any positive results.” CII said, “In the coming budget, the Finance Minister will have to present a roadmap to address the issues of power sector in order to achieve 9 percent annual growth rate in 12th plan.”

Citing electricity as major concern, India Inc and CII see it as single biggest deterrent to economic development. However, PMO’s Principal Secretary Pulok Chatterji has taken fresh actions and started activities to sort out the issue. CEO of a private electricity company has said, “In the early 2010, Pranab Mukherjee had appointed group of ministers under him to address the issue of coal shortage in power plants. Few meetings happened but nothing changed.”

In the letter sent to the government by CII, they have pointed out coal and fund shortage as biggest roadblocks in implementation of power projects. Banks have already sanctioned Rs 3.15 Lakh in earlier electricity projects. Hence they are also reluctant in funding new electricity projects.

However, in the coming budget the Finance Minister should send positive message by proposing a roadmap to address the issues.