Meghalaya: Procedural delays in Atmanirbhar loan cause jitters among power companies

Sangma said that many of the power generating companies such as NEEPCO, National Thermal Power Corporation (NTPC) and others are apprehensive in terms of state government commitment to repaying them via the Atmanirbhar loan.
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SHILLONG:

Meghalaya Power Minister James Sangma on Monday said that the procedural delays in the Atmanirbhar loan has caused jitters among the power generating companies.

Speaking to reporters, he said, “We want to assure the companies that we are very committed to making sure that we expedite the process for taking these loans and the Atmanirbhar loan is given to them on time so that their losses can be reduced.”

He was responding to queries about the centre debiting Rs 370 crore from the state’s account and transferring it to NEEPCO.

Sangma said that many of the power generating companies such as NEEPCO, National Thermal Power Corporation (NTPC) and others are apprehensive in terms of state government commitment to repaying them via the Atmanirbhar loan.

POWER POTENTIAL

In terms of power potential, the Minister said that Meghalaya has huge hydro potential and the state can generate 3300 MW of power.

“Despite having so much potential, we can tap only 10 per cent of that and there have been many flawed agreements signed in the past,” he said.

He added that there are some ways and means to increase sources of generation to reduce the dependency on central power generating companies.

(Edited by Shankar Turha)

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