Power Finance Corporation (PFC) today said it expects additional funding requirement in a range between Rs 30,000 crore and Rs 35,000 crore to meet the obligation for enhanced funding for power distribution companies in near future.
The government had recently allowed enhanced funding to Discoms for clearance of their outstanding dues as on 30 June 2020. “The lending for the enhanced portion will be co-funded by PFC and its subsidiary REC equally. We expect that in near future additional fund requirement would be around Rs30,000 cr to Rs 35,000 cr,” the company said in a statement.
The company said it is adequately placed on the liquidity front in the current financial year and is raising around Rs 58,000 crore from the domestic markets at competitive rates including Rs 11,000 crore for the liquidity injection package.