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  Business   Companies  06 Jun 2017  PFC to loan Rs 3.6K cr to UP gov for consumer connections

PFC to loan Rs 3.6K cr to UP gov for consumer connections

PTI
Published : Jun 6, 2017, 6:36 pm IST
Updated : Jun 6, 2017, 6:36 pm IST

The PFC has decided to give Rs 3,600 crore loan to UP discoms for creating infrastructure to provide electricity to households.

Representational Image.
 Representational Image.

New Delhi: State-run Power Finance Corp (PFC) has sanctioned Rs 3,600 crore loan for Uttar Pradesh power distribution firms to provide infrastructure for last mile connectivity and electricity connections to consumer.

The scheme also includes providing smart meters for having real time data of power consumption in the state. According to GARV portal maintained by Power Ministry, there are three crore households in rural areas in Uttar Pradesh out of which only 1.49 crore families have electricity connections.

"The PFC has decided to give Rs 3,600 crore loan to the Uttar Pradesh discoms for creating infrastructure to provide electricity connections to households deprived of this basic facility," a senior PFC official said. The official said however that the UP government is yet to give its nod for Rs 3,600 crore loan for its scheme for strengthening electricity distribution infrastructure.

This loan, he said, is not being provided under the Integrated Power Development Scheme (IPDS) but as a separate debt for discoms to provide electricity connections to over 11 lakh families. The IPDS is designed to help states reduce AT&C losses; establish IT enabled energy accounting/ auditing system, improve energy billing based on metered consumption and improve upon collection efficiency.

The estimated expenditure on the scheme which would strengthen sub-transmission and distribution networks is Rs 32,612 crore.

Tags: uttar pradesh, electricity, power finance corp, electricity scheme
Location: India, Maharashtra, Mumbai (Bombay)