Sikkim: Citizen Action Party demands white paper on Teesta Urja Hydro project share sale

Citizen Action Party demands a white paper on the recent sale of the share of the Teesta Urja hydro project and other power projects of Sikkim before the election. It was stated by the party's senior leader DB Chauhan. 

To give context, Greenko company has decided to buy a 40% stake in Teesta Urja Ltd (TUL) for $200-250 million (Rs 1,400-1,750 crore) from Singapore-based Asian Genco Pte Ltd, a company majority owned by PE investors such as General Atlantic, Goldman Sachs, Morgan Stanley, Norwest Partners and Everstone Capital.Citizen Action Party alleges that the remaining 60 per cent has also been sold by the government. 

Greenko has already applied for approvals from the Competition Commission of India reads a news report published in national media. It also read that the Government of Sikkim owns the remaining 60% of TUL. 
Also Read: Sikkim's Citizen Action Party elects Bharat Basnett as new president

He also said this is the reason they are showing huge confidence in winning all 32 seats by selling the hydro projects which are assets of the state. 

Chauhan when asked will there be any alliance said 'that the party has constituted a parliamentary committee for all constituencies and contest in all assembly seats and one Lok sabha and he also said they would not go for a poll alliance with any party. 

In another important development, the Citizen Action Party of Sikkim has elected Bharat Basnett as their new president.  

The announcement was made during a party meeting held today at its headquarters. 

Former President L P Kafley resigned from the post of the President. As per party sources, Kafley has voluntarily stepped down from the president’s post.

As per the party constituency, one man cannot hold the dual post and LP Kafley is likely to contest the election.