SCRUTINISATION SCHEME FOR PETROLEUM
SECTOR
The Government is
in the process of finalising securitisation scheme for the petroleum
sector. The proposed scheme will be applicable for securitisation
of State Electricity Boards’ (SEB) dues in North Eastern Region
in respect of outstanding dues of GAIL (India) Limited and Oil
India Limited. This include issue of 10 years 8.5% State Government
Bonds payable every six months. The repayments will be in 10 equal
half yearly instalments commencing after a moratorium of 5 years.
The other features include part waiver of past interest on case
to case basis and payment of current dues through Letter of Credit.
The above scheme
is on the lines of the scheme that has been adopted for SEBs.
The scheme would help in realisation of old oustanding dues of
SEBs in North-eastern Region and ensure the timely realisation
of current dues.
The above information
was given by the Minister of State for Petroleum & Natural
Gas, Smt. Sumitra Mahajan, today in the Rajya Sabha in a written
reply.
