NTPC threatens to pull out of CWG sponsorship


New Delhi: The New Delhi Commonwealth Games has been moving from one controversy to another. With just 48 days to go, it is becoming increasingly clear that the Games will fall short of the sponsorship targets.
After allegations of corruption not just the private sector but even public sector giants like the National thermal Power Corporation (NTPC) have threatened to pull out of the Games.
NTPC has threatened to pull out of Commonwealth games sponsorship if funds are misused.
NTPC, which has a commitment of Rs 50 crore to the Games, in a letter sent earlier this month has said it wants assurance that funds are being used for bonafide purposes. The power major says fund should not be used as payment of commissions. The PSU saying it wants clarity on how its funds are being used because it remains answerable to Comptroller and Auditor General (CAG) and Central Vigilance Commission.
Commonwealth Games Organising Committee had set a sponsorship target of Rs 1,800 crore but has received a commitment of only Rs 342 crore till now.
All the major sponsors are PSUs with the Indian Railways contributing the maximum at Rs 100 crore. The Central Bank of India is spending Rs 51 crore while Air India and the NTPC are spending Rs 50 crore each
But the trouble now is that some of them are threatening to pullout.
CNN-IBN has copy of a NTPC letter in which the company says that it will walk out if Commonwealth Games sponsorship deals are not transparent.
Among the private sector companies Hero Honda is spending Rs 38 crore rupees and Coca-Cola Rs 16 crore.
The Australian company SMAM, responsible for getting sponsorships, had promised to bring Rs 1,200 crore in January 2008
But in February 2010, the Organising Committee admitted that SMAM was not able to meet the target. The deal with SMAM has since then been scrapped.

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