Tuesday 16th April 2024

Power Minister congratulates PFC on completing 35 glorious years of formation

Jul 17th, 2021 6:36 pm | By | Category: LATEST NEWS

Union Minister of Power, New and Renewable Energy, R.K. Singh released 9th Integrated Ratings for State Power Distribution Utilities today here. The Minister appreciated that the Ninth Annual Integrated Rating exercise covering 41 State Power Distribution Utilities for the rating period FY 2019-20 has been completed with the enthusiastic participation of all the utilities.

He congratulated all stakeholders, especially the state distribution utilities for their active role and support in successfully completing the Ninth Annual Integrated rating exercise despite the ongoing pandemic. He added that the Indian Power sector will benefit from a fair and accurate assessment of the true position of the distribution sector which in turn will help in assessing and improving its performance. This will also assist State Governments, lending institutions and other stakeholders to take important decisions.

The Minister also congratulated PFC on completing 35 glorious years of formation. He said that over the period, PFC has become a leading NBFC and a key player in financing of the Indian Power sector. He added that PFC will be an instrumental strategic partner in government reform schemes for power sector such as Rs. 3 trillion ‘Reforms-based and Results-linked, Revamped Distribution Sector Scheme’, Atmanirbhar DISCOM package, etc. He appreciated PFC for being on a path of rapid development & growth. He wished that PFC’s legacy continues and inspires all the stakeholders in the power sector.

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