24. The most vital element of the reform process is the restoration of financial viability of the State Electricity Boards (SEBs). On the basis of consensus that has progressively emerged in the National Development Council Resolution of 1992, the Common Minimum National Action Programme drawn up in 1996 and the Power Ministers’ Conference of February 2000, the Central Government is accelerating the programme of reforms in SEBs on the basis of specific milestones that are being built into MOUs entered into with State Governments. These MOUs include specific milestones such as:

l A time bound programme for installation of 100 per cent metering by December 2001.

l Energy audit at all levels.

l A specific programme for reduction and eventual elimination of power theft.

l Tariff determination by SERCs and compliance thereof.

l Commercialisation of distribution and

l SEB restructuring.