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September 14, 2018 04:29 PM | Business

Panel to meet today to address stressed thermal power assets issues

A high level panel for power sector is meeting today for the second time to discuss the framework and the contours of the resolution plan to address stressed thermal power assets.

Earlier, the government has decided to set up a high level empowered committee headed by the cabinet secretary with representatives from the ministry of railways, ministry of finance, ministry of power, ministry of coal and the lenders, having major exposure to the power sector, with a view to resolve the stress and revive such assets in power sector on July 29, 2018.

The committee is looking into the various issues with a view to resolve them and maximise the efficiency of investment, including changes required to be made in the fuel allocation policy, regulatory framework, mechanisms to facilitate sale of power, ensure timely payments, payment security mechanism, changes required in the provisioning norms/Insolvency and Bankruptcy Code (IBC), Asset Restructuring Company (ARC) Regulations and any other measures proposed for revival of stressed assets so as to avoid such investments becoming NPA (bad loan).

(With inputs from PTI)
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