Delhi Power Subsidy Is Latest AAP vs Lt Governor Flashpoint

 Ms Atishi said the chief minister has ordered an audit of the subsidy being provided.

New Delhi:

Delhi Power Minister Atishi today claimed that a "big conspiracy" is being hatched to put an end to the government's free electricity scheme in the national capital.

Ms Atishi accused Delhi Lieutenant Governor VK Saxena of forming a "nexus" with power companies to stop free electricity. Addressing a press conference, she announced that Delhi Chief Minister Arvind Kejriwal has issued directions for audit of power discoms by CAG-empaneled auditors.

"There are many questions being raised about Lt Governor's 'nexus' with power discoms," Ms Atishi said.

The AAP leader alleged that files pertaining to free electricity were not being shown even to the power minister of the elected government.

"A conspiracy is being hatched at a high level to stop free electricity being provided by the Kejriwal government. Files are not being shown to the chief minister and the power minister. It shows that something is amiss," Ms Atishi said.

"Government-appointed experts in discom boards were removed earlier and now questions are being raised if the Lt Governor is colluding with the discoms," she alleged.

Ms Atishi said the chief minister has ordered an audit of the subsidy being provided to the discoms to determine how this money is being used.

Earlier this month, the Delhi government had announced that there were no plans to revise its power subsidy scheme and it will continue without any restrictions.

The assurance was prompted by the Lt Governor's office seeking changes to the power subsidy policy in the national capital.

Ms Atishi had earlier said that the Delhi Electricity Regulatory Commission (DERC) had issued statutory advice to the Delhi government in 2020, asking it to consider restricting electricity subsidy to needy consumers. However, the DERC withdrew its advice in January this year.

But in March, Lt Governor VK Saxena asked officials to direct the power department to place the advisory before the council of ministers and take a decision within 15 days.

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Elon Musk bought Twitter for $44bn five months ago. He says its value now is…

 

Elon Musk has put the current value of Twitter at $20 billion, less than half the $44 billion he paid for the social media platform just five months ago, according to an internal email seen by American news media.
Twitter CEO Elon Musk (Twitter)
Twitter CEO Elon Musk (Twitter)

The email to employees referred to a new stock compensation program in the San Francisco-based company and the allocation of shares to employees of X Holdings, Twitter's umbrella company since Musk purchased it in late October.

The compensation plan values the platform at $20 billion, slightly more than Snapchat's parent company Snap ($18.2 billion) or Pinterest ($18.7 billion), both of which are publicly traded, unlike Twitter.

Also Read: Elon Musk sent a mail to Twitter employees at 2:30 a.m. He said…

Musk, who is also the chief executive of Tesla Inc. and aerospace group SpaceX, said that Twitter would allow its employees to cash in shares every six months.

A query from AFP emailed to Twitter's communications department generated an automatic response in the form of a poop emoji.

In the internal email, Musk describes the brutal contraction in Twitter's value. He says the platform faced such grave financial difficulties that at one point it was on the verge of bankruptcy.

"Twitter was trending to lose ~$3B/year," Musk said in a message posted Saturday on the platform.

He cited a revenue drop of $1.5 billion a year and a debt-servicing burden of the same amount -- leaving it with "only 4 months of money."

Musk, Twitter's majority shareholder, added simply: "Extremely dire situation."

But he then said that "It looks like we will break even" in the second quarter of the year, with advertisers -- many of whom fled the platform after the mercurial billionaire bought it -- now beginning to return.

Since taking control, Musk has sharply cut the group's payroll from 7,500 employees to fewer than 2,000.

He said in the email that he sees a "clear but difficult path" to a valuation of $250 billion, without specifying how long that might take.

However, in another setback for the company, fragments of Twitter's source code were published on the development platform GitHub, the latter told AFP on Sunday, confirming a report by the New York Times.

GitHub removed the files from its site at Twitter's request, but their brief exposure could allow hackers to identify flaws in Twitter's original software.

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