Welcoming the cabinet clearance to the much-awaited electricity bill, Assocham on Saturday said that this would facilitate power sector reforms by doing away with the obsolete laws preventing the smooth growth of the sector. The chamber president Raghu Mody said that once the bill was passed by the cabinet, the Centre and state governments with the help of the regulatory bodies should evolve a time-bound programme for formulating power reforms laws, a national tariff policy and guidelines for cross subsidisation. Mody, however, lamented that India topped the developing countries in the mis-management of the power sector due to poor accountability and transparency at the various levels. The need for such an act has been necessitated, as even the best worldwide known power companies have not been adequately motivated to work in India, Mody said. Bureau Report