Principal Secy Fin discusses financial restructuring of JKSPDCL
Srinagar, Oct 10: Principal Secretary, Finance Department, Navin Kumar Chaudhary, today convened a meeting of officials of Jammu and Kashmir State Power Development Corporation Limited (JKSPDCL) to discuss the financial restructuring of the Corporation.
The meeting was attended by Commissioner Secretary PDD, Hirdesh Kumar, Director General, Perspective and Manpower Planning, Planning Development and Monitoring Department, Shahzad Bilal, Director Budget, Finance Department, Imtiyaz Hussain, Director Finance, PDD, Director Finance JKSPDCL and other concerned officials.
On the occasion, various issues were discussed threadbare regarding the Financial restructuring of JKSPDCL which includes liquidating the Power purchase liability of the PDD and infusion of fresh state equity into the JKSPDCL.
The valuation of token value assets of Rs one transferred by the PDD to JKSPDCL at the time of its incorporation, which had a value of Rs 916.54 crore, and treating the same as the state equity was also discussed in the meeting. Payment of surcharge receivable on outstanding power purchase liability from PDD also came up in the discussion.
The Principal Secretary Finance gave various on spot directions and asked the officials to implement them at an earliest.