Loss estimates of Rs 90,000 crore to discoms not correct: Power Ministry

Photo:PIXABAY‘Estimates of high loss to discoms not correct’

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New Delhi. The Union Power Ministry has said that the speculations about a loss of Rs 90,000 crore to the power distribution companies (discoms) in the last financial year 2020-21 are not correct. The ministry said the damage was being shown to be “exaggerated”. Recently there were some such reports in which it was said that discoms have suffered a loss of Rs 90,000 crore in 2020-21. The ministry said these speculations started after rating agency ICRA published a report on the power sector in March 2021. The ministry said in a statement on Wednesday that the report shows a loss of Rs 50,000 crore in 2018-19. At the same time, the report mentions that the loss in 2019-20 has increased to Rs 60,000 crore. On the same basis in the report, some losses or losses of discoms in 2020-21 have been described as Rs 90,000 crore.

The Ministry said that the reason for such speculation is also believed to be the decline in electricity sales in 2020-21 due to the lockdown imposed due to Kovid-19. The report also mentions an increase of Rs 30,000 crore in dues of lenders to discoms from March, 2020 to December, 2020. The ministry said this increase of Rs 30,000 crore is a cash flow problem. This has been directly added to the disadvantages of discoms. The ministry said similar erroneous estimates by ICRA have pushed the loss figure to Rs 90,000 crore, which appears to be overstated.

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