Government Appoints V Packirisamy as Director of Power Finance Corporation.

Power Finance Corporation Limited Appoints New Director

The government has appointed V Packirisamy as Director (Commercial) at Power Finance Corporation Limited (PFC), effective June 2. This announcement was made in a statement on Tuesday.

Prior to his new appointment, Packirisamy served as Executive Director, Entity Appraisal & IT, PFC, according to an exchange filing by the company. With over three decades of extensive experience in the power sector and infrastructure finance, Packirisamy brings a wealth of knowledge to his new role.

Packirisamy holds a BE (Mechanical) and an MTech (Management and Systems) from IIT Delhi. He began his professional career in 1989 and joined PFC in 1997. Over the years, he played a pivotal role in expanding the organisation's operations and strengthening its appraisal and risk management frameworks, significantly contributing to the growth of PFC's loan portfolio.

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During his tenure, Packirisamy has been instrumental in several key institutional initiatives, including the development of methodologies for categorising state generation and transmission utilities, formulation of the Integrated Rating Framework for Power Distribution Companies approved by the Ministry of Power, and drafting appraisal policies for private sector entities. Additionally, he serves as a nominee director on the Board of Telangana North Discom and is the President of the Power Foundation of India.