Govt announces Rs 90,000 crore package for DISCOMS
In a big relief to crisis-hit power sector, the Centre on Wednesday announced its plan to infuse Rs 90,000 crore liquidity to cash-starved state electricity distribution companies (DISCOMS).
“Discoms today are facing unprecedented cash flow problems,” Finance Minister Nirmala Sitharaman said here while announcing package.
State-owned Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) will infuse the fund by raising Rs 90,000 crore loan from the market against the receivables of discoms. However the state governments have to provide a guarantee, the Minister said.
“Discoms today are facing unprecedented cash flow problems,” Finance Minister Nirmala Sitharaman said here while announcing package.
