PFC and JKPCL signs agreement for Liquidity Infusion for Jammu and Kashmir UT

PFC and JKPCL signed and exchanged an agreement for Liquidity Infusion Scheme.
Sheena

Updated: Oct 17, 2020 02:34:05 pm

PFC and JKPCL signs agreement for Liquidity Infusion for Jammu and Kashmir UT

17 October 2020 Current Affairs:

Government-owned Power Finance Corporation Ltd (PFC), India's leading NBFC, has sanctioned Rs.2790 crore to Jammu Kashmir Power Corporation ltd (JKPCL) for clearing its outstanding dues.

Highlights:

♦ PFC and JKPCL signed and exchanged an agreement for Liquidity Infusion Scheme under "Aatmanirbhar Bharat Abhiyaan" for the Jammu and Kashmir Union Territory. 

♦ The money sanctioned under the scheme will be used to clear the outstanding dues of CPSU, GENCOs & TRANSCOs, IPPs and RE Generators on March 31 2020.

♦ The exchange agreement was signed in the presence of Shri RohitKansal, Principal Secretary, PDDalong with senior officers from JKPDD, KPDCL, JPDCL, PFC & REC.

♦ In May, the Government announced an Rs.90,000 crore liquidity infusion for discoms under which these utilities would get loans at economical rates from PFC and REC. 

♦ This scheme was an initiative of the Government to help gencos to remain afloat. Later, the liquidity infusion package was increased to Rs.1.2 lakh crore.

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