Nagpur Local

3 Power Companies under burden of loan Rs72,452 cr.

Maharashtra’s 3 power firms – MSEDCL, Mahagenco and Mahatransco are burdened with walloping Rs 72,452 crore loan extended by numerous banks. This quantity goes up, that shows the mismanagement of those firms. Despite the loan burden, the state government waived off power charges of an industrialist in Vidarbha and Marathwada. however once a requirement to waive off power dues of farmers agri pumps the goverment was found non- serious in extending the soaps. This was revealed in a very memorandum submitted to chief minister Devendra Fadanvis. in step with info, MSEDCL has the loan of the burden of Rs 34,083 crore with interest of nine.59%. Of this Rs 1,317 crore is a brief-term loan, Rs 14, 859 crore is a medium-term loan, and Rs 4, 471 crore is future. additionally Rs 2,452 crore is functioning capital and Rs 1,984 crore is a loan from the state government. Mahagenco has taken Rs 25,676 crore term loan at an associate interest rate of 9.78% and Rs 6,539 crore short term loans at an interest rate of 8.73%. the whole loan burden is Rs 32, 215 at a mean interest rate of 9.59 %. Mahatransco has taken Rs 5,993 crore future loan and Rs 161 crore short term loan. Power Finance Corporation and Rural Electrical Corporation have Lententide loads of quantity to the 3 firms. remainder of the quantity has been mostly provided by nationalized banks. non-public banks have provided a negligible quantity. MODEL is in such a dangerous financial firm that has been unable to hide dues from its customers. customers own Rs forty-seven,077 Croer to MSDECL of that Rs 29,014 is principle quantity whereas Rs 18,062 crore is that the interest element. the explanations for losses to the 3 power firms have started as fixing of recent power units, repairs and maintenance, the birth of recent transmission lines, power thefts, poor recovery of unfinished dues, etc. Despite the walloping burden of loans on the 3 power firms, the state government waived off power charges of industries from 2013 to 2019 in Vidarbha and Marathwada. Moreover, the state cupboard has approved a proposal to increase the sops until the year 2024. The strength of this may

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