For this, it is suggested that the states issue tax-free bonds to the CPSUs who can then freely trade them in the market after the initial lock-in period. On payment of current bills, the panel is also considering fixing a time-limit (around 30-45 days from the date of such bills) for payment by the SEBs. Also, stringent clauses in the form of a freeze on credit (including working capital) to the defaulting SEBs by all lending institutions, besides denial of share in the discretionary allocation of 15 per cent from the regional power stations of CPSUs are likely to be incorporated in its securitisation scheme for payment of current dues. This is to ensure that there are no defaults on current dues. On the possibility of a complete waiver of interest and surcharge payable by SEBs (as reported in a section of the press as being suggested by FIs), a senior committee member ruled out that such a possibility, saying this is not feasible as this will refrain all those SEBs who have agreed to issue bonds to CPSUsagainst their outstandings from making payments.