Mr. Satnam Singh served the Power Financial Corporation for long term. He was the managing director of the PFC. His contribution in PFC cannot be measured with any measurement scale. He joined PFC with master degree in Finance and Marketing under University Business School. This management school in Chandigarh. He completed his bachelor degree in Commerce Guru Nanak Dev University. This university is in Amritsar. When it comes to experience in power sectors and finance sectors, it is well-known fact that with his 30 years of experience he contributed his companies with excellence. People mentioned him The Satnam Singh PFC.
The full form of the PFC is Power Finance Corporation. This corporation is serving the people since 1986. It is one of the Government-owned companies. Public called it Financial Institution (FI) too. This company is concerned about the integrated development of the entire power sectors. Under RBI this corporation is known as non-banking finance company. Since 1990, people become familiar with PFC as a Public Financial Institution. Different types of project term loans, lease financing, direct discounting of the short term loan, bills, and consultancy services-PFC deals with these successfully. Satnam Singh PFC is very popular till the date.
How environments changes give negative impact on the power sectors?
Fuel shortage issue is increasing day by day. Fuel shortage issue is a greatest problem these days. Apart from this, environment change, coal mine related problems; coal supply related problems make the interest rates higher. That resulted in failing to pay back the debts by the power sectors timely. The truth is, most of the power sectors got failed in that. In that case, PFC or the Power Finance Corporation can able to revive those power sectors. Based on the guidance by the Satnam Singh CEO, to revive the power sectors, they (power sectors) have to meet some criteria.
From the Satnam Singh’s point of view what should be the criteria for lending to discom?
Those discoms who want to back to the market (reviving) need to go through five criteria in correct manner. After fulfilling those criteria, those discoms have to follow some nice other criteria too. If they able to meet all these criteria, then they will be eligible to avail loan for six months. Satnam Singh gave some additions in it, as per his opinion, the current year subsidy related formalities should be done by the State Government. The audited accounts need to be there for a certain time. But he also said that it should not be later than 18 months.
Highest interest rate related problems have made many power sectors to shut down or running very weakly. Drastic climate change, starting of coal shortages, problems in coal mines cannot shut down the power sectors. ‘’If there is a will, there is a way’’- as per the Satnam Singh Power Finance Corporation, the government owned- PFC can assist those power sectors to get rid of this problem. Those affected power sectors will avail compensation which they lost due to environment change, coal-mine related issues, etc.
