ગુજરાતી
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After becoming the Chief Minister of Gujarat, Narendra Modi wanted to become the Prime Minister. For this, he started planning since 2005 itself. As part of his plan, GSPC, owned by the Gujarat government, advertised extensively to print and TV owners that it had discovered oil reserves.
At the time of this announcement, oil reserves were just a rumor. Before becoming Prime Minister, GSPC Rs. 20 thousand crores were scammed, pushing it into debt by 2014.
Allegations were made by CAG and the opposition in the Assembly.
Offshore gas wells were dug in Kakinada since 2005 by GSPC, a unit of the Gujarat government. Even after five-six years of drilling and several attempts, no gas came out of it till 2010. Bank loans of Rs 10 to 15 thousand crores were taken by GSPC to extract this gas and oil.
Though no gas has been produced from this field, refineries have been set up by GSPC at a cost of Rs. 10 crores. On the contrary, the income is only Rs. 1 or 2 crores. The return on capital up to 2015 is only 1%.
GSPC had long term and short term debt as on 31-3-2013 of Rs. 15,372.77 crores as on 31-3-2014 of Rs. 17,475.04 crores. Thus, the debt in the year 2014 as compared to the year 2013 is Rs. 2,102.27 crores. Interest Expenses per annum during the year 2013-14 is Rs. 1,504.20 crores as against debt of Rs. 1,652.75 crores under derivative contracts entered into by the Company as against Rs. 591.12 crores as interest expense.
Gross income from sale of crude oil, gas etc. of GSPC from all blocks to joint ventures was Rs. 355.27 crores against expenditure of Rs. 183.60 crores and profit was only 50% i.e. Rs. 171.67 crores. Out of that revenue share of GSPC was Rs. 189.10 crores against which expenditure was Rs. 102.57 crores i.e. income was only 50% i.e. Rs. 86.53 crores only.
According to the audit report of GSPC, GSPC is yet to recover Rs. 1613.32 crores. Loss from Niko Resources Ltd. for short supply of gas amounting to Rs. 624.44 crores is yet to be recovered.
GSPC incorporated “Atwood Oceanics Pacific Ltd.” in September-2005. A nominated company was contracted to carry out the drilling work of the wells discovered by the drilling programme. In February-2012, it was alleged that this company deducted twenty five thousand dollars from the invoice. After that, it was alleged that for late payment, an amount of 12,91,436 US. Dollars was to be paid along with interest. Then in March-2012, a case was filed by this company. According to the claim, apart from the 15,23,895 US. Dollars amount, GSPC claims to receive interest payment at the rate of 1.50% monthly from GSPC till the due date, who are the partners of GSPC? Who was paying the commission? Parmar asked such a question.
A. Gas is not extracted from the G. Basin but imported gas is purchased by GSPC and that too at a high price, gas is purchased from MMTBU. Sartar buys gas only from foreign license holders. GSPC spends about Rs. 11,000 crore annually on purchasing gas. National authorised agencies sell gas at 4 to 5 dollars in MCX and NCX market, while GSPC buys gas at 10 to 12 dollars. Even if we consider 5% of Rs. 40,000 crore, its commission is Rs. 2,000 crore, whose pocket does the commission go in? Parmar asked such a question.
Parmar said that according to the CAG report, GSPC spent Rs. 200 crore. Rs. 717.58 crore in the year 2012-13 and Rs. 201.40 crore in the year 2013-14. 328.90 crore. Total purchases worth Rs. 1317.88 crore have been made without tender. KG Shailesh Parmar alleged that the basin is a den of corruption.
According to the CAG report of the year 2014, the public sector undertakings of the state of Gujarat have incurred a total loss of Rs. 1,111.85 crore. These include GSPC Pipavav Power Company Ltd. with a loss of Rs. 307.10 crores, Gujarat State Power Generation Limited with a loss of Rs. 151.21 crores and GSPC Gas Company Ltd. with a loss of Rs. 134.68 crores. (Google translation from Gujarati)
