The dues that power distribution companies (Discoms) owe generation companies (Gencos) have crossed ₹40,000 crore, according to industry players.
“We are following up with the State governments to ensure the timely payment of dues. This is also discussed during our monthly interactions,” Secretary, Ministry of Power, A K Bhalla, told BusinessLine.
Cash flow suffers
According to industry officials, outstanding payments to Gencos from Discoms reached ₹37,219 crore as of September. These figures will rise to over ₹45,000 crore if invoices of the last 60 days are added. Said an industry official: “The alarming level of outstandings has already started impacting the cash flows of various companies.” Read More
Latest posts by The Hindu Businessline (see all)
- BPCL disinvestment plan fuels security concerns around Numaligarh Refinery - October 19, 2019
- A Kathmandu-Lhasa rail link can enhance China’s influence in Nepal, to India’s detriment - October 19, 2019
- India looks to consolidate oil-spill handling equipment at ports - October 18, 2019