FICO strongly opposed hike in power tariff
Today the Punjab State Electricity Regulatory Commission has released the power tariff, applicable from 16th May 2023 up to 31st March 2024.
City Air News
May 15, 2023 09:05
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Ludhiana, May 15, 2023: Today the Punjab State Electricity Regulatory Commission has released the power tariff, applicable from 16th May 2023 up to 31st March 2024.
The Government of Punjab has increased the Fixed Charges by Rs.25 per KVA for Small Power and Rs. 20 per KVA for Medium Supply and Rs. 30 per KVA for Large Supply Industrial Consumers. Moreover, the Unit Rates have also been increased by 30 Paisa for Small Power and Medium Supply and 40 Paisa for Large Supply Industrial Consumers.
FICO strongly opposed this hike in Power Tariff and demanded immediate rollback from Bhagwant Singh Mann, Chief Minister, Punjab.
Gurmeet Singh Kular President and Rajeev Jain General Secretary FICO said that power is one of the major raw materials for the industry, and any increase in the power cost will impact the cost of industrial products especially when the industry is working on narrow margins due to prolonged recession, and imposing an additional burden on the industry in the form of an increased tariff will only be troublemakers for the industrialist. This is the time that the government should support the industry and roll back the increase in power tariff with immediate effect.
K.K. Seth Chairman and Manjinder Singh Sachdeva Senior Vice President FICO said that the State Government has recently increased the Power Tariff for Industrial Consumers by around 50 Paisa per unit, and now again an increase of 30 to 40 paisa. This is the time when the industry is at its lowest due to the prolonged effects of Covid Lockdowns, an increase in raw material prices, labour shortage, and not increased power tariff will prove to be fatal for Punjab's industrial establishments, the state government should immediately reverse the decision.
