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PSPCL gets ₹4,000-cr boost, but free power subsidy gap remains
Hindustan Times Chandigarh
|February 24, 2025
The Punjab government's decision to avail an additional borrowing of 0.5% of the gross state domestic product (GSDP) has provided a significant financial boost to Punjab State Power Corporation Limited (PSPCL), which has received ₹4,004 crore.
This amount includes ₹504 crore in unpaid electricity bills from various Punjab government departments, pending since 2021, which the PSPCL had been struggling to recover.
The central government has allowed states to borrow an additional 0.5% of their GSDP annually for up to four years, provided they implement reforms to improve the power sector.
As part of these conditions, states must take over 75% of the losses incurred by public sector power distribution companies (Discoms) in the 2023-24 fiscal year. Given PSPCL's reported loss of ₹4,500 crore for the year, the Punjab government has allocated ₹3,500 crore to the PSPCL to comply with these guidelines.
Dit verhaal komt uit de February 24, 2025-editie van Hindustan Times Chandigarh.
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