Shri RK Singh, Hon’ble Union Power Minister releases “Ranking & 9th Integrated Rating of State Power Distribution utilities” Report
Shri
RK Singh, Hon’ble Union Power Minister releases “Ranking & 9th Integrated
Rating of State Power Distribution utilities” Report
DISCOMS
from Gujarat and Haryana among top 5 performers
Mumbai,
July 16 - Hon’ble
Union Minister of Power, New and Renewable Energy, Shri R.K. Singh today
released the “Ranking & Ninth Integrated Ratings for State-owned Power
Distribution Utilities” on the occasion of PFC’s 36th Foundation Day
in the presence of Shri Krishan Pal, Minister of State for Power along with Shri
Alok Kumar, Secretary (Power), Shri R.S Dhillon, CMD PFC and other Senior
Officers from Ministry of Power, PFC & REC.
The Minister appreciated that the
Ninth Annual Integrated Rating exercise covering 41 State Power Distribution
Utilities for the rating period FY 2019-20 has been completed with the
enthusiastic participation of all the utilities. He congratulated all
stakeholders, especially the state distribution utilities for their active role
and support in successfully completing the Ninth Annual Integrated rating
exercise despite the ongoing pandemic. He added that the Indian Power sector
will benefit from a fair and accurate assessment of the true position of the
distribution sector which in turn will help in assessing and improving its
performance. This will also assist State Governments, lending institutions and
other stakeholders to take important decisions. He also congratulated A+ &
A category DISCOMS who have performed well and urged upon other utilities to
perform better & improve their ratings next time.
The Minister congratulated PFC on
completing its 35 glorious years in the service of the Nation. He said that,
PFC has become a leading NBFC and a key player in financing the Indian Power
Sector. He further added that PFC will be an instrumental strategic partner in
Government reform schemes for power sector such as `3.03 Lakh Crore 'Reforms-based and
Results-linked, Revamped Distribution Sector Scheme', Atmanirbhar DISCOM
package, etc. He further added that PFC as a dedicated Financial
Institution to Power Sector has the required expertise in funding the Power
Sector. He appreciated PFC for being on
a path of rapid development & growth. He wished that PFC’s legacy
continues and inspires all the stakeholders in the power sector.
The Integrated Rating exercise is
carried out on annual basis since 2012 as per the methodology approved by
Ministry of Power (MoP). MoP has mandated Power Finance Corporation (PFC) to
co-ordinate with the utilities, rating agencies & MoP during the rating
exercise.
The Ninth Integrated Ratings have been
carried out by ICRA Analytics Limited (IAL) & CARE Advisory Research &
Training Limited (CART), the consulting arms of ICRA ratings and CARE
respectively.
The event was virtually joined by Secretaries
of State Governments and CMDs of various State Distribution Utilities.
