'Power bailout package will be performance-linked'
Power Minister Veerappa Moily sent a clear message to the power companies that their bailout would depend on their performance.
New Delhi: Put your house in order first - that's the message that Power Minister Veerappa Moily sent to the power companies on Tuesday when he said that the debt restructuring package announced by the government to bail them out would be performance-linked.
"We want to ensure they don't go into debt trap again. The package is performance-linked. States discoms need to come up with a concrete plan to improve their health," he said.
In a slew of decisions taken by the government to push reforms, the Cabinet on Monday cleared a Rs 2 lakh crore package for the debt-ridden state electricity boards.