Jammu & Kashmir approves JKPDD’s debt restructuring proposal under UDAY

The State Administrative Council (SAC) of Jammu & Kashmir has approved a proposal for the restructuring of outstanding power purchase liabilities of the Jammu & Kashmir Power Development Department (JKPDD). This would be undertaken by raising debt under the Ujwal Discom Assurance Yojana (UDAY) and issuing of bonds by the state government. JKPDD’s revenue deficit during 2014-15 was estimated at Rs 39.13 billion.