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Posts published in “Day: April 30, 2019”

Govt. to stand guarantor for MeECL debt

Power Minister plead consumers to bear load shedding HP NEWS SERVICE Shillong, Apr 29: Meghalaya cabinet Monday decided to stand guarantor for Rs 630 crore worth of bond floated by the Meghalaya Energy Corporation Limited (MeECL) to pay off some of its debt. Following a cabinet meeting, Power Minister James K Sangma informed journalists that out of the capital raised from the market through the bond, the MeECL would write off some of its “high-interest bearing loans” taken from the Power Finance Corporation and also pay some of its debt to the North Eastern Power Corporation Limited (NEEPCO). The central…