Pb Discoms To Get Loan To Clear Dues, Late Fee To Be Rescheduled | Chandigarh News

Patiala: In reference to electricity rules 2022, the discoms can now get loans facility for clearance of outstanding and current dues as REC, a public infrastructure finance company, has formulated a policy for this purpose. Further, for clearance of current dues of supplies, a revolving bill credit facility is also being provided by REC.
“As per the scheme, the outstanding dues of the state power distribution companies — including the principal and late surcharge — will be frozen. They will be given the flexibility to pay the outstanding amount in up to 48 installments,” said PSPCL official.
A senior PSPCL official revealed that letter was sent to Punjab Power principal secretary as part of communication to convey this message to discoms, but PSPCL was having no dues pending in this regard. The officer revealed that this facility was extended to those generators that had turned defaulters by not clearing the outstanding dues and REC would give them loans, to clear these outstanding dues.
“The total outstanding dues, including late payment surcharge upto date of notification of rules, shall be rescheuduled and due dates redetermined for payment by distribution licencee in 48 EMIs. REC formulated policy for extending loans to DISCOMs for liquidation of outstanding dues is in line with LPS rules 2022. UDAY limits shall not be applicable,” reads the letter to principal secretary.