The Kerala State Electricity Board (KSEB) has decided to introduce austerity measures citing an ''emerging financial situation'' where the power utility is likely to face a financial crunch in the near future.
For the time being, the KSEB director board has recommended cost-cutting measures till March 31, 2023, which include slashing capital investment across all verticals by 15% and avoiding all forms of unnecessary expenditure.
B. Ashok, Chairman and Managing Director (CMD), KSEB, had recommended ‘‘restructuring proposals’‘ over the 2022-23, 2023-24 and 2024-25 fiscals for curtailing ‘‘postponable’‘ expenses in capital investment, new posts, purchase of passenger vehicles and construction of new office buildings. The director board’s decision came on this proposal.
