Govt forms panel – According to an office order, the high-level committee will receive regular progress reports from the working group and will meet once every week to take stock of various issues to ensure smooth merger of the two entities. The power ministry on Thursday constituted a high-level committee to monitor the progress of the merger of Power Finance Corporation (PFC) and Rural Electrification Corporation (REC). It also constituted a three-member working group to examine the modalities of the merger.

The working group will be headed by Director (Distribution) of the Ministry of Power and executive directors of both the institutions will be members. It is tasked to study and make recommendations on personnel and technology integration, corporate and functional restructuring, reconciliation of stakeholder interests and any other matters related to the merger process.

The high level committee will be convened by the Joint Secretary (Distribution) in the Ministry, consisting of Chairman and MD of PFC and REC as members.