Logo


Write off power discoms' losses: Ministry to states

Proposes conversion of Rs 1 lakh crore cumulative losses into bonds or loans. In what could be another bailout for loss-making power distribution companies, the Union ministry of power has advised all state governments to write off their cumulative losses. The losses stood at more than Rs lakh crore as of last year. The ministry wants state governments to take steps to clean the balance sheets of power utilities by writing off the cumulative losses and ensuring cash losses were not incurred subsequently, according to a senior power ministry official. The modalities had been left to the ...