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Punjab State Power Corporation Limited (PSPCL) has decided not to proceed with its earlier plan to raise a Rs 10,000-crore loan from the debt market through bonds and non-convertible debentures. The decision was taken at a meeting of the PSPCL board of directors held on Wednesday. Highly placed government sources told The Tribune that the board noted that the state power company had managed to raise a bank loan of Rs 5,500 crore, which “for the time being was enough to be used as the working capital”.