Meghalaya Cabinet approves proposal to pay Rs 5.65 billion power dues of NTPC

The Meghalaya Cabinet, reportedly, has approved a proposal to clear the pending power dues of Rs 5.65 billion owed to NTPC Limited.

The payment will be made in 20 installments after negotiations between the Meghalaya Power Department and NTPC. The outstanding dues had initially risen to Rs 6.65 billion , and had they continued to accumulate, they would have surpassed Rs 10 billion, placing a burden on various state entities. NTPC has agreed to accept the reduced amount, with the possibility of waiving over Rs 1 billion and potentially lowering the interest rate.