State seeks interest reduction on REC, PFC funding
BHUBANESWAR: The State Government urged the Centre to reduce the interest rate on liquidity proposed to be infused to the power sector affected by the Covid-19 through Rural Electricity Corporation (REC) and Power Finance Corporation (PFC).
The issue was raised by Minister of State for Energy and MSME Dibyasankar Mishra at the Power Minister’s conference held on digital platform by Union Power Minister R K Singh on Friday. Participating in the discussion on the liquidity infusion to discoms to overcome the impact of the pandemic, Mishra urged the Union Minister to reduce the interest rate on liquidity infusion by REC and PFC from 9.5 per cent to 6 per cent and extend the assistance for the revenue shortfall due to less demand of power in 2020-21.
