Projected power purchases liability of J&K pegged at Rs 6,949 crore

The projected liability on account of power purchases for Jammu and Kashmir by the end of March has been pegged at Rs 6,949 crore, officials today said.

The total liabilities of power purchases of the state is Rs 6,706.73 crore including that of Jammu and Kashmir Power Development Corporation and the projected liability by March end is Rs 6,949 crore, an official spokesman said.

The PDD had a huge revenue deficit during financial year 2014-15 amounting to Rs 3,913.50 crore.

The outstanding liabilities of CPSU had reached to Rs 3,537.55 crore at the end of September 2015, he said.

The interest and surcharge burden on account of these outstanding liabilities will be about Rs 1,250 crore per annum which will be off-loaded after outstanding bills of power purchase are liquidated as per the approved restructuring proposal, the spokesman said.