The Meghalaya Cabinet on Friday approved a proposal for Meghalaya Energy Corporation Ltd (MeECL) to avail a loan of up to Rs 1,345.72 crore towards clearing dues.
The cabinet, however, set a few conditions for the approval, including bringing down the aggregate technical and commercial (AT&C) losses.
The Meghalaya Power Distribution Corporation Ltd (MePDCL) has “a huge outstanding” towards central power generating stations and the Power Grid Corporation of India Ltd (PGCIL), Power Minister James K Sangma said.
“The cabinet has approved the proposal to allow MePDCL to avail the assistance restricted to Rs 1,345.72 crore under the Aatma Nirbhar Bharat Abhiyaan (ANBA),” he said.
MePDCL has seen poor revenue collections due to the Covid-19 pandemic, the minister said
