PFC bags navratna status

New Delhi, Feb 13 (UNI) Power Finance Corporation (PFC) will now get enhanced power in executing equity investments in joint ventures (JVs) after a Cabinet Secretary level meeting here this afternoon decided to bestow 'Navratna' status to the public sector undertaking (PSU).

Power Ministry sources told UNI that meeting attended by Secretaries of Power, Finance and others had considered conferring of this status upon two other power sector PSUs also -- PowerGrid and Rural Electricity Corporation (REC).

PFC had on its board five independent directors, while the other two PSUs are yet to appoint independent directors.

UNI