FICO opposes imposition of additional advance consumption deposit
Author(s): City Air NewsLudhiana, July 30, 2019: In a meeting of Federation of Industrial and Commercial Organization (FICO), under the presidentship of Gurmeet Singh Kular alongwith Ashpreet Singh Sahni Secretary Tractor Division FICO,...
Ludhiana, July 30, 2019: In a meeting of Federation of Industrial and Commercial Organization (FICO), under the presidentship of Gurmeet Singh Kular alongwith Ashpreet Singh Sahni Secretary Tractor Division FICO, strongly opposed the additional advance consumption deposit imposed by Punjab State Power Corporation Limited (PSPCL) to the industrialists.
FICO requested the Chief Minister, Punjab Capt Amarinder Singh, to look into the matter, as the additional advance consumption deposit is another burden being imposed on the fellow industrialists, especially in this period of crisis.
Kular said the industry is already struggling for its survival.
He added the industrialists have already deposited the amount of security for the power connection, and asking for another advance consumption deposit forcefully, is yet another harsh decision of PSPCL and Punjab Government.
He said the new decision will only discourage the industry of Punjab
Kular said they all are aware that the Punjab is the costliest state in terms of power for Micro & small industry.
Imposition of such decisions will only raise questions about the future of industry in Punjab, opined Kular.