Ministry asks for Cabinet nod to monetise PGCIL assets
NEW DELHI: The power ministry has moved a cabinet note seeking approval for monetisation of the transmission lines of the Power Grid Corporation of India LtdNSE 1.77 % (PGCIL) through infrastructure investment trust (InvIT). It aims to raise ₹10,000 crore through this to help boost PGCIL’s spending plan, a senior official, told ET, requesting not to be named.
According to the official, although these are turbulent times, the government is going ahead with those asset monetisation plans that have a definite revenue stream, like the transmission lines. “Once approved, government will invite bids as it aims to complete the process by middle of this year,” the official said.
