PFC Sets Ambitious Performance Targets with Power Ministry Agreement

Power Finance Corporation (PFC) has signed an agreement with the Power Ministry to establish an annual target framework, assessing its achievements for fiscal year 2025-26. This MoU aligns with government guidelines requiring CPSEs to set performance parameters, enhancing critical performance indicators for these entities.

State-owned Power Finance Corporation (PFC) has formalized a performance evaluation agreement with the Ministry of Power, setting an annual target framework to gauge its achievements for the fiscal year 2025-26.

According to government guidelines, all Central Public Sector Enterprises (CPSEs) must sign Memorandums of Understanding (MoUs) to assess management performance against key parameters, striving to enhance organizational critical performance indicators.

The MoU between PFC and the Ministry of Power was e-signed by Power Secretary Pankaj Agarwal and PFC CMD Parminder Chopra. This exchange falls under the Department of Public Enterprises (DPE) framework, which rates CPSE performance on financial and operational targets, though further details were not disclosed.

(With inputs from agencies.)