The Punjab State Power Corporation Limited (PSPCL) on February 09, 2023, issued a circular to amend the Significant Accounting Policies, and the annual accounts of PSPCL are finalized on the basis of the Significant Accounting Policies framed which is approved by BoDs.
The Punjab State Electricity Regulatory Commission (PSERC) has amended the Punjab State Electricity Regulatory Commission (Terms and Conditions for Determination of Generation, Transmission, Wheeling and Retail Supply Tariff) Regulations, 2019 with effect from April 01, 2020. Considering this change by PSERC, BODs in its 88th meeting held on June 20, 2021, has amended the accounting policy in respect of 'Depreciation and Amortization'.
In the 97th meeting held on December 20, 2022, at Chandigarh BODS amended accounting policies in respect of 'Inventory' to be implemented with effect from April 01, 2022.
The amendment in the Significant Accounting Policy is issued for information, Guidance, and strict compliance.
Disclaimer – Kindly find the detailed amendment provided in the Link/Document.
[Circular No. 03/2023]
