The Power Finance Corporation has sanctioned a loan of Rs 4,905 crore to cash strapped BSES discoms.
The BSES discoms had sought a long-term financial solution through PFC, which had proposed a financial package of Rs 11,006 crore last year. Power tariffs are the only source of revenue for discoms and the shortfall is bridged through loans and deferred payments to power utilities. The Delhi Electricity Regulatory Commission, had in its July 2014 tariff order and an earlier affidavit submitted in the Supreme Court, admitted that it owes Rs 9,811 crore to BSES discoms, besides an additional Rs 4,500 crore that will be due to BSES discoms on account of Appellate Tribunal for Electricity judgments in their forum.
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