HPSEBL posts highest-ever earnings; CM credits reforms, governance, and financial discipline
Shimla: In a major financial breakthrough, the Himachal Pradesh State Electricity Board Limited (HPSEBL) has recorded a profit of ₹315 crore in the financial year 2024–25 — the highest in its history. This marks a dramatic turnaround for the public sector utility, which had been reeling under continuous losses for years.
As of March 31, 2024, HPSEBL had accumulated losses worth ₹3,742 crore. However, with focused reforms, transparency in administration, and a commitment to financial discipline, the state government helped the Board achieve profitability for the first time since its inception.
The state government had made economic reform and good governance a priority from the first day in office. He held marathon meetings with public sector undertakings and directed them to function professionally and work towards self-reliance. HPSEBL responded to this vision by curbing unnecessary expenses, improving revenue recovery, and introducing internal financial discipline — all of which contributed to this historic recovery.
“This is not just a number. It reflects our vision of ‘Nai Soch, Naya Himachal’. It is the result of honest governance and a policy rooted in welfare,” said the Chief Minister. He congratulated the management, officers, and staff of HPSEBL for their efforts and expressed confidence that the Board is on its way to becoming fully self-reliant.
The improved financial standing has also enabled the Board to extend substantial welfare benefits to its employees. For FY 2024–25, the government has approved ₹368.89 crore for gratuity, medical reimbursements, revised pension arrears, and leave encashment — a significant increase from ₹87.56 crore last year. Of this, ₹187.86 crore has already been disbursed as of July 31, 2025.
The Chief Minister reiterated the government’s resolve to continue reforming all public undertakings to make them efficient and accountable. He emphasized that financial strength of such institutions would lead to better services for the public and security for employees.
Highlighting achievements beyond the power sector, the Chief Minister noted that due to reforms in education, Himachal Pradesh has climbed from 21st to 5th rank in terms of quality education in the country — overtaking 16 other states. He said this too was a result of committed leadership, clear vision, and systematic execution of reforms.
