PFC, REC working on loans for state power discoms

Power sector financiers Power Finance Corp (PFC) and REC Ltd NSE 0.81 % are working on loans for state electricity distribution companies to help them pay their electricity dues.

The state power distribution companies have ₹1.18 lakh crore electricity dues to power producers.

The medium- to long-term loans from these financiers will be made available to states that participate in the power ministry’s dues liquidation scheme, a senior official said.