Punjab State Power Corporation Limited (PSPCL) has been rated sixth in the entire nation and this shows improvement in the performance of the past two years. PSPCL has improved its last year’s ratings and is now covered under A-plus grade in the 2018-19 annual rankings for high capabilities in both operation and finances.
However, Gujarat discoms have secured the top positions again, it is good news for Punjab as the state was rated ninth in the previous ratings and it has jumped up three places, as per the report released by the Union Minister of State for Power at the power ministers’ conference.
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As the ministry rates on the basis of financial performance, audited accounts, cross-subsidy, reforms, regulatory environment, and forward-looking parameters the key concerns of the PSPCL are its dependence on the state for subsidy being given in lieu of free power to the agricultural sector which gets delayed mostly, besides this comes high salary bill. In the year 2016, the PSPCL stood fifth in the rankings, however, since then its position dropped to 11th in 2018 and 13th in 2017. And, the ratings improved in 2018 when the discom stood at ninth position and sixth in the present rankings.