Govt accords ‘Maharatna’ status to Power Finance Corporation

The government has accorded the ‘Maharatna’ status to state-owned Power Finance Corporation (PFC), a move that will pave the way for the company’s greater financial and operational efficiency, according to a company statement.

“Government of India accorded the prestigious ‘Maharatna’ status to state-owned Power Finance Corporation (PFC), thus giving PFC greater operational and financial autonomy,” the company said in the statement.

An order to this effect was issued on Tuesday by the Department of Public Enterprises, under the Ministry of Finance.

Incorporated in 1986, PFC is the largest infrastructure finance company dedicated to the power sector under the administrative control of the Ministry of Power.