PFC signs performance evaluation agreement with Power Min

New Delhi, Aug 27 (PTI) State-owned PFC has signed a performance evaluation agreement with the Power Ministry to set an annual target framework against which its achievement for FY26 will be assessed.

As per government guidelines, all CPSEs (holding as well as subsidiaries) are required to sign MoUs.

The purpose of the memorandum of understanding is to measure the performance of the management of the CPSEs on key selected parameters against the targets agreed upon so as to improve the critical performance indicators of the organisation, a company statement said on Wednesday.

Power Finance Corporation Limited (PFC) exchanged the memorandum of understanding (MoU) for FY 2025-26 with the Ministry of Power (MoP).

The agreement was e-signed by Power Secretary Pankaj Agarwal and PFC CMD Parminder Chopra, as per the Department of Public Enterprises (DPE) performance evaluation framework for Central Public Sector Enterprises (CPSEs).

The DPE's MoU performance evaluation framework is used for setting annual targets for the CPSEs on various financial and operational parameters, and the CPSE’s overall performance is rated against such MoU targets, PFC said without sharing any further details.

Power Finance Corporation Ltd (PFC) is India’s largest government-owned non-banking financial company (NBFC) based on asset size (consolidated).

It operates under the administrative control of the Ministry of Power and serves as the principal financial institution for India’s power sector. PTI ABI ABI BAL BAL