Power Ministry sets up expert panels to resolve CPSU project disputes
The Ministry of Power has introduced a new system to settle contractual disputes in power projects executed by Central Public Sector Undertakings and statutory bodies under its oversight. The framework seeks to reduce delays in dispute resolution that often raise project costs and slow construction. The centrepiece of the reform is the creation of Conciliation Committees of Independent Experts. These committees offer an alternative to arbitration and court proceedings, which can be slow and expensive….