Kolkata: West Bengal State Electricity Distribution Company Ltd (WBSEDCL) has got a soft loan of Rs 1,022 crore from the Centre so that it can compensate for the huge liquidity stress incurred due to the COVID –19 pandemic situation.
"We have taken Rs 1,022 as soft loan for clearing dues of state and central entities
like West Bengal Power Development Corporation Ltd
(WBPDCL), National Thermal Power Corporation (NTPC), NHPC etc with whom we have
an agreement for power purchase," said Sobhandeb
Chattopadhyay, state Power minister.
The department had calculated the amount that it needs to pay back to the generation companies and had written to the centre for sanction of funds for this purpose.
Sources said that the payment to Bengal is a part of the centre's Atmanirbhar Bharat Abhiyan support of Rs 90,000 crores for overcoming the problems faced due to Covid pandemic. The other states also had received such soft loans in the power sector.
The Centre on May 13 decided to infuse this amount through Power Finance Corporation (PFC) and Rural Electrification Corporation (REC).
A department official said that WBSEDCL has incurred losses of nearly Rs 2,000 crores due to the lockdown as its collections dipped considerably during April- May.
The 10 year loan to the Bengal government has a three year moratorium period and is to be repaid in 84 EMIs.