J'khand Cabinet approves proposal to facilitate Rs 750 cr PFC loan to discom

The Jharkhand government on Wednesday approved a proposal to facilitate a Rs 750-crore loan from the Power Finance Corporation (PFC) to its discom for payment of outstanding dues to electricity generating firms.

The nod was given in the state cabinet meeting chaired by Chief Minister Hemant Soren.

The state has been battling with power outages amid massive outstanding dues to power generating companies.

''The state government approved a proposal to facilitate Rs 750 crore loan from PFC to the Jharkhand Bijli Vitaran Nigam Ltd (JBVNL) for payment of outstanding dues to power generation companies on its gurantee,'' Cabinet Secretary Vandana Dadel said.

Power dues of Jharkhand stand at around Rs 4,000 crore, officials said.

The cabinet also cleared three bills for setting up three private universities in the state.