Advertisement

Updated August 15th, 2020 at 06:39 IST

Over Rs 1,300-cr loan for Meghalaya Energy Corp Ltd to clear dues

The Meghalaya Cabinet on Friday approved a proposal for Meghalaya Energy Corporation Ltd (MeECL) to avail a loan of up to Rs 1,345.72 crore towards clearing dues.

| Image:self
Advertisement

The Meghalaya Cabinet on Friday approved a proposal for Meghalaya Energy Corporation Ltd (MeECL) to avail a loan of up to Rs 1,345.72 crore towards clearing dues. The cabinet, however, set a few conditions for the approval, including bringing down the aggregate technical and commercial (AT&C) losses. The Meghalaya Power Distribution Corporation Ltd (MePDCL) has "a huge outstanding" towards central power generating stations and the Power Grid Corporation of India Ltd (PGCIL), Power Minister James K Sangma said.

"The cabinet has approved the proposal to allow MePDCL to avail the assistance restricted to Rs 1,345.72 crore under the Aatma Nirbhar Bharat Abhiyaan (ANBA)," he said.

MePDCL has seen poor revenue collections due to the COVID-19 pandemic, the minister said. 

Advertisement

Published August 15th, 2020 at 06:38 IST

Your Voice. Now Direct.

Send us your views, we’ll publish them. This section is moderated.

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Whatsapp logo