The Meghalaya cabinet on Wednesday decided to extend 100 per cent budgetary support from the state’s development budget for repayment of the Atmanirbhar loan of Rs 1345 crore availed by the Meghalaya Energy Corporation Limited (MeECL).
However, the Corporation was asked to bring about certain reforms.
The Meghalaya Energy Corporation Limited has availed Rs 1345 crore under the Atmanirbhar Bharat Abhiyan scheme for paying outstanding power dues to various generating companies like NEEPCO and others.
Chief minister Conrad K Sangma told reporters that the cabinet has decided against the distribution franchisee of some circles of the MeECL, but would continue to extend budgetary support to it by putting certain targets to the Corporation.
He said that one of the provisions of the support will come along with certain targets that have to be met by the MeECL in a time-bound manner.
The Corporation also has to ensure some kind of security to the state government in terms of mortgage of assets.
The cabinet held thorough deliberations on the issue in the presence of state power minister James PK Sangma, other ministers, officials of the power department and MeECL officials.