PSPCL gets loan of hundreds of crores for coal purchase
Kanwar Inder Singh/ royalpatiala.in News/ July 30,2023
Power Finance Corporation (PFC) and Rural Electrification Corporation (REC), have sanctioned short-term loans of Rs. 800 crores to Punjab State Power Corporation Limited (PSPCL) for purchasing coal. This information was given by R K Singh, union power minister in Lok Sabha.
The two funding agencies Power Finance Corporation (PFC) and Rural Electrification Corporation (REC), have disbursed Rs.12,971.5 crores to State power utilities in Maharashtra, Punjab, Haryana, Karnataka, Rajasthan and West Bengal. PFC and REC have sanctioned short-term loans of 17,824.5 crore to State power utilities for purchasing coal.
Some State Gencos have sought working capital assistance from PFC and REC for procurement of coal pending realization of their dues. As on 31.03.2023, the coal stock available at 180 Domestic coal based plants was 34.6 million ton (MT), while on 17.7.2023, it was 33.4 MT which is sufficient to run these plants for an average of 13 days at 85% Plant Load Factor (PLF). Further, the coal stock at 57 State Sector Plants as on 17.07.2023 is 9.6 MT, which is sufficient to run these plants for an average of 10 days at 85% PLF. During 2023-24, the likely net induction of coal carrying rakes would be about 200 rakes, which could provide additional 50 rakes/day for coal loading.
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