The proposed scheme will enable discoms to pay their dues over 48 installments, stated a notification by the ministry. It has also proposed to provide a one-time relaxation to all discoms, wherein the amount outstanding, including the principal and late payment surcharge (LPSC) on the date of notification of the scheme, will be frozen.
LPSC is levied on discoms when they do not pay their monthly dues within a stipulated period of 90 days. The cumulative LPSC of all discoms stands at ₹6,839 crore.
"The liquidation of outstanding dues in a deferred manner without the imposition of LPSC will give discoms time to shore up their finances. At the same time, gencos will benefit from assured monthly payments, which otherwise were not forthcoming to them," the ministry said in a public statement.
It, however, said if discoms delay the installment payment, LPSC would be charged on the entire outstanding dues.
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