REC and PFC sanction Rs 1,080 billion under liquidity package

REC Limited and the Power Finance Corporation (PFC) have sanctioned Rs 1,080 billion in loans under the liquidity package for stressed power distribution utilities and have released nearly Rs 300 billion to discoms under the scheme. Recently, a loan of Rs 27.9 billion was sanctioned to Jammu & Kashmir Power Corporation Limited (JKPCL) under the scheme. The agreement was signed among the Jammu & Kashmir government, JKPCL, REC and PFC.