Covering dues: Special loans for discoms raised to Rs 1.2 lakh crore

The loans being offered to state-run electricity distribution companies (discoms) under a special liquidity window may be increased to Rs 1.20 lakh crore from the Rs 90,000 crore announced earlier to cover the additional dues of these entities to power generators for the April-June period, a senior official said on Sunday.

The Centre had announced the scheme to clear the dues owed by discoms to the power generating companies till March, but several states, citing the discoms’ additional stress due to the coronavirus lockdown, wanted a widening of the window, Union power ministry secretary Sanjiv Nandan Sahai said.

“As on September 11, Rs 25,000 crore has been disbursed out of Rs 68,000 crore sanctioned under the scheme,” Sahai added while addressing the webinar on renewable energy organised by PHD Chamber of Commerce and Industry. The special loans are being given by state-run PFC-REC.

Overdues — receivables pending for more than 60 days — to gencos by discoms stood at `1.16 lakh crore on June-end. By July-end, the figure had increased by another Rs 1,000 crore.

financial express
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