Loans worth around Rs 70,000 crore sanctioned to discoms under liquidity package, says government
New Delhi: As a lot as Rs 70,590 crore price of credit score has been sanctioned to discoms underneath the liquidity package deal for cost of dues by these utilities, Parliament was knowledgeable on Sunday.
Finance Minister Nirmala Sitharaman in May this 12 months had introduced a Rs 90,000 crore liquidity infusion into cash-strapped discoms for clearing their excellent dues until March 2020.
Now, the federal government is within the strategy of enhancing this package deal to Rs 1.2 lakh crore factoring in discoms excellent dues until June this 12 months. Some states had urged the central authorities to hike this liquidity package deal by factoring in excellent dues of April and May as nicely.
“As against Rs 90,000 crore of liquidity infusion package announced by the government, Rs 70,590 crore worth of loans have been sanctioned and Rs 24,742 crore has already been disbursed/released till September 16, 2020,” stated Power Minister R Okay Singh in a written reply within the Rajya Sabha.
The authorities is infusing liquidity within the energy sector by means of Power Finance Corporation (PFC) and REC Ltd to allow the sector to take care of energy provides as money flows had plummeted throughout lockdown imposed to include the unfold of COVID-19.
Under this intervention, the REC and PFC are extending particular long run transition loans of as much as 10 years to discoms for liquidating their excellent dues of Central Public Sector Undertaking (CPSU) Generation (Genco) & Transmission Companies (Transcos), Independent Power Producers (IPPs) and Renewable Energy (RE) mills.
In separate reply to the House, the minister acknowledged that energy demand would enhance from 1,399.91 billion items (BU) in 2019-20 to 2,047.43 BU in 2026-27.
He additionally instructed the House that the height energy demand would enhance to 298.77GW in 2026-27 from 200.69GW in 2019-20.
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