PNS | DEHRADUN
The central board of indirect taxes and customs (CBIC) of the Union ministry of Finance has awarded Uttarakhand Power Corporation Limited (UPCL) with a certificate of appreciation for its excellent financial management.
The award was presented on the GST day. The CBIC has given this award to UPCL for its contribution in building a strong nation as a result of timely compliance of monthly and annual GST related statutory obligations in the financial year 2023-24.
The Managing Director, UPCL Anil Kumar said that the award is a matter of pride for the corporation. He said that recently, the unprecedented progress made by UPCL in the financial sector in the last year was also appreciated in the board of directors meeting, in which the improvement in billing and collection efficiency and UPCL’s efforts to reduce aggregate technical and commercial (AT&C) losses was lauded.
He said that the UPCL adopted an innovative power purchase strategy. In the financial year 2023-24, cheap electricity was obtained from the short-term market at a record 22 per cent lower rate as compared to the financial year 2022-23, due to which the overall power purchase rate also fell by about three per cent.
