Srinagar: The administration of Jammu and Kashmir has sought Rs 3400 crore from the Government of India for funding cost escalation of different GoI sponsored schemes in the power sector, sources disclosed.
Official sources said that JK’s Power Development Department (PDD) is vigorously pursuing the proposal with Power Ministry of India.
“The funding is required to meet increasing costs of schemes like Integrated Power Development Scheme(IPDS), Deen Dayal Upadhyaya Gram Jyoti Yojana(DDUGJY) and Prime Minister’s Development Programme(PMDP) for Jammu and Kashmir,” they said.
They added that these schemes are aimed at strengthening power transmission and distribution system in JK.
An official said they have repeatedly taken up the matter with GoI. “We have been raising this issue with Power Ministry in all meetings since last one year as we are not in a position to fund cost escalation from our resources. We are hopeful that the funding would be approved soon,” he said.
Under the PMDP, Rs 3790 crore have been earmarked for augmentation of infrastructure for distribution systems for capital cities and tourist destinations.
Apart from this, Rs 105 crore were kept for advance technology interventions like smart grids and smart meters.
It is worthwhile to mention that administration of Jammu and Kashmir will get Rs 4580 crore special term loan from Government of India for clearing power purchase liabilities.
Power Finance Corporation(PFC) and Rural Electrification Corporation(REC) have agreed to grant Rs 2290 crore each loan to JK for clearing power purchase liabilities of different power generating companies like National Thermal Power Corporation Limited (NTPC), National Hydroelectric Power Corporation(NHPC) and others.
(Syndicated feed from KNO)
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