New Delhi: State-owned Power Finance Corporation Limited (PFC) has signed a performance evaluation agreement with the Ministry of Power (MoP) for the financial year 2025-26, setting a framework of annual targets against which the company’s performance will be assessed.
The Memorandum of Understanding (MoU), mandated for all Central Public Sector Enterprises (CPSEs), aims to evaluate management performance on key operational and financial parameters, thereby enhancing critical performance indicators of the organisation, the company said in a statement on Wednesday.
The agreement was exchanged between Power Secretary Pankaj Agarwal and PFC Chairperson & Managing Director (CMD) Parminder Chopra through an electronic signing process. It has been drawn up under the Department of Public Enterprises’ (DPE) performance evaluation framework for CPSEs.
“The MoU system provides a structured mechanism for setting annual targets for CPSEs and rating their performance against agreed benchmarks,” PFC said, without disclosing specific parameters finalised for the current year.
PFC, under the administrative control of the Ministry of Power, is India’s largest government-owned non-banking financial company (NBFC) based on asset size (consolidated). It plays a pivotal role as the principal financial institution for India’s power sector, supporting generation, transmission, and distribution projects across the country.
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