Punjab State Power Corporation Limited (PSPCL) is facing a severe financial crunch, thanks to the inability of the state government to release power subsidy. The corporation is spending crores each day to purchase power to meet the demand, which has reached new highs.
This could mean that the corporation may not be able to purchase power from other generators this summer season. In view of intense heatwave in the region coupled with the growing demand in the agriculture sector for paddy transplantation, the power corporation has been spending an average of Rs 80 crore to Rs 85 crore per day to purchase power to meet the growing demand.
