J&K to raise Rs 3500 cr through bonds to liquidate power liability

A meeting chaired by the Union Finance Secretary A N Jha on Tuesday discussed various outstanding financial issues pertaining to J&K state.
J&K to raise Rs 3500 cr through bonds to liquidate power liability
Representational Pic

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 J&K 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, an official handout said. 

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 ware also resolved. 

Expressing satisfaction over the outcome of the meeting,  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.

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