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J&K Discoms among 4 States get financial assistance to clear power dues

Under new LPS Rules, State owned Non-Banking Finance Company (NBFC) REC Ltd has sanctioned Rs 22,000 crores to power distribution companies (Discoms) of Jammu Kashmir Union Territory and three other States to clear their dues.This significant financial assistance was provided yesterday for clearing the outstanding dues by the distribution licensees, which will be paying to their electricity suppliers.The total outstanding dues owned by electricity Distribution Companies (Discoms) in Jammu Kashmir to power producers is above Rs 9600 crores while the total overdue amount of power utilities in the country has now crossed Rs 1,50,00 crores.Besides Jammu Kashmir, financial assistance has been provided to Discoms of Jharkhand, Rajasthan and Chhat.....

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