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PFC signs MoU with Ministry of Power Detailing Targets for FY 2020-21

PFC signs MoU with Ministry of Power Detailing Targets for FY 2020-21
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PFC signs MoU with Ministry of Power Detailing Targets for FY 2020-21

Highlights

The state-run Power Finance Corporation Limited (PFC) has signed a performance-based Memorandum of Understanding (MoU) with the Ministry of Power detailing various targets to be achieved by PFC during FY 2020-21.

The state-run Power Finance Corporation Limited (PFC) has signed a performance-based Memorandum of Understanding (MoU) with the Ministry of Power detailing various targets to be achieved by PFC during FY 2020-21.

State-run Power Finance Corporation has set a revenue target of Rs 36,000 crore for the current financial year. The MoU was signed by Power Secretary Sanjiv Nandan Sahai and CMD of PFC R.S. Dhillon in presence of senior officials of the Ministry of Power and PFC.

Government of India has set an ambitious revenue target of Rs 36,000 crore along with various performance-related parameters such as Operating Profit as a percentage of Revenue from Operation, PAT (profit after tax) as a percentage of Average Net Worth and Non-financial parameters namely IPDS-related parameters (Integrated Power Development Scheme).

PFC has been delivering exemplary performance from the past years and the ratings from the Government of India stands testimony to the performance.

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