THE POWER MINISTRY on Wednesday proposed a fresh scheme to facilitate the state-run electricity distribution entities (discoms) to pay up their dues to gencos, which at last count stood at a staggering ₹1 trillion. The move follows a low level of compliance with its recent directives to the discoms to clear dues and the realisation that it largely resulted from a resource crunch with the discoms.
The scheme will allow payment of financial dues by discoms in up to 48 monthly installments. It also includes one-time a relaxation wherein the amount outstanding (including principal and late payment surcharge) on the date of notification of the scheme will be frozen without the further imposition of the surcharge.
If the scheme works without causing further default, it will enable gencos, many of which are facing huge liquidity crunch, to continue their operations uninterruptedly.
This story is from the May 26, 2022 edition of Financial Express Mumbai.
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This story is from the May 26, 2022 edition of Financial Express Mumbai.
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