Engineers seek financial restructuring of power cos
Tribune News Service

Patiala, June 6
Leaders of the PSEB Engineers’ Association have told Chief Minister Parkash Singh Badal that power companies are under a massive debt trap with outstanding loans of Rs 20,000 crore, of which working capital loan has crossed Rs 6,500 crore.

Association president and general secretary HS Bedi and Bhupinder Singh, respectively, said they had requested CM for an immediate financial restructuring at a meeting with him yesterday as otherwise power companies would not be in a position to ensure timely payment for coal, freight and power purchase affecting power supply position in these summers. Meanwhile, the association has requested the CM to fill vacant post of Director/Commercial on merit basis, as had been done while appointing other directors of these companies.