NEW DELHI: Power distribution companies (discoms) can clear their record dues to generation companies (gencos) and still be left with some moolah if the state governments released the promised subsidy and government bodies cleared their bills – just like common consumers.
State governments owed their discoms Rs 1.39 lakh crore in subsidy receivables and unpaid bills of government departments as of March 31, according to a presentation made at the national conclave of chief secretaries presided over by prime minister Narendra Modi in June.
The same presentation pegged the total overdues of discoms towards gencos at a little more than Rs 1 lakh core at the time.
Had the state governments released the subsidy receivables of Rs 76,337 crore and the government departments paid their pending bills worth Rs 62,931 crore, discoms would have been able to clear their dues to gencos and still be laughing their way to their banks with a kitty of roughly Rs 38,000 crore (rounded).
