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PSPCL making profits but subsidy burden a worry
Hindustan Times Chandigarh
|December 12, 2024
POWER CORPORATION EARNS ₹2, 685 CR PROFIT BETWEEN APR AND SEPT, GOVT OWES IT ₹6,000 CR AS SUBSIDY BILL
CHANDIGARH: Running its own coal mine and making optimal use of its power plants, the Punjab State Power Corporation Limited (PSPCL) has earned a profit of ₹2,685 crore for the period ending September 2024 (April to September) as compared to ₹564 crore during the corresponding period last year.
Despite the profit, PSPCL remains in poor financial straits, having to float short-term loans to meet day-to-day expenses, as the Punjab government has been faltering on reimbursing it for the power subsidies being given to domestic, agricultural and industrial users. The Punjab government owes PSPCL a whopping ₹6,000 crore (till December 2024).
Dit verhaal komt uit de December 12, 2024-editie van Hindustan Times Chandigarh.
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