At Delhi meet, J&K agrees to raise Rs 3500 Cr state bonds to liquidate outstanding power purchase liability
New Delhi: A meeting chaired by the Union Finance Secretary A N Jha on Tuesday discussed various outstanding financial issues pertaining to J&K state.
The meeting was attended by a team of officers from the State led by Principal Secretary, Finance, Navin Choudhary and comprised Commissioner-Secretary, PDD, Hirdesh Kumar Singh, officers of J&K Finance Department, representative of Union Power Ministry and senior officers of Department of Expenditure.
Threadbare discussions resulted in an agreed roadmap to raise Rs 3500 Crore state bonds to liquidate outstanding power purchase liability. Further, issues related to market borrowing by the state for the last quarter of the current financial year was also resolved.
Expressing satisfaction over the outcome of the meeting, Mr Navin Choudhary conveyed that immediate follow up action will be taken by the Finance and Power Development Departments to conclude these issues at the earliest possible
by INS Desk