The Karnataka government plans to allocate Rs 20 billion to restructure and revive the five ailing electricity supply companies (Escoms) in the state.
The five electric supply companies — BESCOM (Bengaluru), CHESCOM (Chamundeshwari), GESCOM (Gulbarga), MESCOM (Mangaluru) and HESCOM (Hubli) — have been in the red largely due to rising dues from the government. Reportedly, the government will make payment in two parts — grants and guarantees for Escoms to raise loans from the market.