The Government has decided to set up an empowered committee headed by cabinet secretary P K Sinha and representation from the ministries of finance, power, railways, coal, and banks having exposure to the power sector to revive stressed thermal power projects.

An official statement said that this Committee will deliberate upon issues with a view to resolve them and maximise the efficiency of investment including changes required to be made in the fuel allocation policy and also in the regulatory framework.

It will also look into mechanisms to facilitate sale of power, ensure timely payments, payment security mechanism, changes required in the provisioning norms/Insolvency and Bankruptcy Code (IBC), Asset Restructuring Company regulations and other proposals for revival of stressed assets so as to avoid such investments becoming NPA, the official statement said.