(ET)
Coal India’s dues from state- owned power generation companies have risen to Rs 22,000 crore amid muted demand and high production, sources said on Monday. The mining behemoth is also not in a position to regulate supplies to the power companies as demand has remained subdued over the last few months, they said.
“Dues are now at Rs 22,000 crore. We are not sure when the situation will improve, and are yet to see the flow of government funds as assistance to gencos,” a company source told . The outstanding amount was around Rs 12,000 crore in January. “Majority of the dues are from state gencos and rationalisation of supply to put pressure on them is also not feasible,” he said. The government had recently announced Rs 90,000 crore worth of loans to state power distribution companies.
