GUWAHATI: The Assam Government has decided to convert Rs 4,289 crore worth of loan and grant provided to the Assam Power Distribution Company Limited (APDCL) into equity to improve the Public Sector Unit's (PSU) balance sheet and facilitate better credit inflow.
The decision to convert Rs 930 crore worth of loan, and Rs 3,359 crore worth of grant given by the Government to APDCL into equity was announced in the Assam Cabinet meeting of December 3.
The Assam Government had initially given Rs 931.51 crore as a loan to the PSU, which increased to Rs. 930.91 crore with interest.
Meanwhile, the Cabinet has also approved Rs 480 crore for payment of tariff relief to Jeevan Dhara (BPL) and low paying domestic consumers, and commercial and industrial consumers for the financial year 2021-22.
The move will benefit over 12 lakh Below Poverty Line (BPL) families who are currently availing free electricity, besides providing relief to over 45 lakh low paying domestic consumers.