PSU PRESS RELEASE
Jharkhand backslides on power dues
RANCHI. Jharkhand’s electricity board had to clear most of its dues to Damodar Valley Corporation (DVC) before it got its loans restructured under the UDAY scheme, but has since accumulated fresh dues to the utility, putting a question mark on the scheme’s ability to salvage the debt-ridden entity. DVC has already started regulating supplies to the state electricity board
DVC chairman and MD Andrew WK Langstieh said the SEB had, prior to UDAY, owed about R7,000 crore to DVC, a joint venture of the central, West Bengal and Jharkhand governments. In order to sign up for the UDAY scheme, the SEB had paid the utility Rs 4,770 crore in September 2015, but has since piled up fresh dues of Rs 600 crore.
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