High level empowered committee to address the issues of stressed thermal power projects
In order to resolve the issues facing the stressed thermal power assets the government has decided to constitute a high level empowered committee. The committee will be chaired by the Cabinet Secretary with representatives from finance, power, coal, railways and lenders having major exposure to power sector.
The Committee will try to resolve the various issues facing the stressed thermal power projects including regulatory framework and changes required to be made in the fuel allocation policy. It is also look into delayed payment issues and will come up with payment security mechanism to ensure timely payments. It will also come up with mechanism to facilitate sale of power. The high level committee will also address provisioning norms/Insolvency and Bankruptcy Code and Asset Restructuring Company Regulations.
The committee will take all measures for the rivival of stressed thermal power projects and will ensure that these projects do not end up becoming non-performing assets (NPA).
@EPC World Media
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