Business EconomyPosted at: May 29 2016 10:44AM

Power sector problems add to PFC's bad loan woes

New Delhi, May 29 ( UNI) Power sector problems seem to have taken their toll on balance sheets of state-owned Power Finance Corporation, with its gross non-performing assets (NPAs) trebling in last financial year.
PFC’s gross NPAs, which stood at Rs 2,534.34 crore at the end of March 2015, have zoomed to Rs 7,520.21 crore at the end of March this year, according to the company.
PFC’s outstanding loans qualifying for restructuring, or rescheduling, or negotiation now amount to over Rs 30,000 crore. Of this, Rs 21,479.20 crore loans are repayable by private players, while Rs 10,783.78 crore by state-owned utilities.
Significantly, at the end of March 2015 there was nil stressed loan on PFC’s book relating to Government sector.
Cumulative losses of state-owned power distribution companies (discoms) have reached the staggering level of Rs 380 crore. Discoms together owe more than Rs 4 lakh crore to banks in outstanding debts.
The Centre has sponsored a Rs 4.43 lakh crore package to bail out debt-laden discoms.
UNI NM SHK 1043

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Power sector problems add to PFC's bad loan woes

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