OTS for industry; Arora thanks CM Bhagwant Mann & PSERC chairman 

Ludhiana, September 21, 2024: MP (Rajya Sabha) from Ludhiana Sanjeev Arora has thanked Punjab Chief Minister Bhagwant Mann on whose directions the Punjab State Electricity Regulatory Commission (PSERC) has issued an order introducing One-Time Settlement (OTS) Scheme for defaulting industrial consumers.

In a statement here on Saturday, Arora said the OTS Scheme would be valid for three months and the consumers can avail the OTS Scheme at simple interest rate of 9% per annum. He said on receiving the representation from the industry he had taken up this matter with Punjab CM Bhagwant Mann. 

Adding, Arora said, on August 10 this year, he had written to Punjab CM Bhagwant Mann and had drawn his attention towards a representation from the APEX Chambers of Commerce and Industry (Punjab) regarding a demand for OTS by PSPCL to the industry in Punjab.

Arora, in his letter to CM, had stated that the representation highlights the industry's request for the introduction of a One Time Settlement (OTS) scheme by Punjab State Power Corporation Limited (PSPCL). The proposed OTS would enable the industry to clear their pending dues. This measure is anticipated to provide significant financial relief and support industrial growth within the state. He had further stated in the letter that it would be a win-win situation as additional revenue would pour in for PSPCL.

Further reacting over the announcement of OTS Scheme, Arora hoped that this initiative would ultimately provide a great relief to the industry, which was demanding OTS Scheme since long. He highly thanked Punjab CM for accepting demand of the industry within a short period. At the same time, he thanked the Punjab State Electricity Regulatory Commission (PSERC) chairman which has provided relief to the consumers. He made an appeal to the industry to take full benefit of the scheme within the stipulated period. 

Meanwhile, the Apex Chamber of Commerce and Industry (Punjab) president Rajnish Ahuja has thanked Arora for becoming a bridge between the industry and the government in resolving the long pending issue of the industry. He said he had had taken up the matter with Arora on August 9 this year and within days the matter has been resolved. He hoped that the OTS scheme announced on an initiative of Arora would provide good environment and relief to industry. He hoped that the Scheme would strengthen the industry and the Punjab.