Will lend Rs 750 crore to JBVNL to improve power crisis: Jharkhand

RANCHI: The state government on Tuesday decided to lend Rs 750 crore to the Jharkhand Bijli Vitran Nigam Limited (JBVNL), state discom, for improving the erratic power situation across the state.
The decision was taken after chief minister Hemant Soren held a review meeting of the current situation of the outages following routine reports of it in the media. Soren also gave nod for Rs 200 crore to JBVNL under annual development plan scheme for infrastructure upgrade across the district.
Loan to help buy extra power
According to a communique from the CMO, “Soren has directed JBVNL to stop immediate outages in all the districts and do all that is possible to improve the situation.”
To help JBVNL purchase extra power from the central pool, the state government will now provide it Rs 750 crore loan from Power Finance Corporation. “The government will take the loan on its guarantee to pump funds to JBVNL for payment of outstanding dues to power generation companies.”