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Govt working on holistic approach to ease discoms' financial stress: Piyush Goyal

By Religare

The union power minister Piyush Goyal has said that government is in active dialogue with discoms and working on holistic approach to ease their financial stress.

Talking about the discoms' financial stress, the union minister said, "We are in active dialogue with discoms, we have a broad framework under which I am very confident, three or four discoms which are really under stress will have a roadmap and in the next three years you will see a sea change in discom story of India."


On being asked if the government was looking at extending financial restructuring plan (FRP) for the discoms, Goyal said, "FRP which was introduced originally in April 2012 and implemented in October 2013 had actually not really changed the situation on the ground, it failed to bring about any significant improvement in AT&C (aggregate technical and commercial losses, in the financial losses of the companies."

"We are working on a more holistic approach where the companies, the discoms themselves will be encouraged to bring about the change, the turnaround through good corporate governance practices and we will hand-hold them and ensure that within a defined timeframe we turn these around," he added.

Story first published: Monday, August 17, 2015, 12:30 [IST]
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