Power Finance Corporation to raise Rs 40,000 crore next fiscal

NEW DELHI: State-run Power Finance Corporation ( PFC) today said it would raise Rs 40,000 crore in the next financial year (2012-13).

"Our fund raising target for fiscal 2012-13 is Rs 40,000 crore," PFC Chairman and Managing Director Satnam Singh told reporters here.

The company, which provides financing to the power sector, had set a target of raising Rs 30,000 crore for this fiscal. It has has raised Rs 28,000 crore this fiscal so far.

PFC has set a target of disbursing Rs 35,000 crore during 2011-12 of which Rs 25,400 crore has been doled out. It plans to up the disbursal target to Rs 40,000 crore in 2012-13.

"We will keep increasing this target in the coming financial year," Singh said.

PFC would disburse the Rs 10,000 crore loan signed with state-owned NTPC by the end of this fiscal. This loan agreement was signed in the year 2008-09. It has so far disbursed Rs 8,000 crore.