FICO opposed 2% Municipal Tax on Electricity

Ludhiana, October 21, 2017: Federation of Industrial & Commercial Organization, popularly known as FICO opposed the Municipal Tax on Electricity. The Government of Punjab imposed 2% Municipal Tax on the Sale of Power with effect from 1st November 2017, as there is already 5% Cess on Sale of Power which is Infrastructure Cess. It has been already announced by honorable chief minister Captain Amarinder Singh that power will be provided to the industry at Rs.5 per unit from 1st July 2017. But as per the latest notification the discounted rates will be applicable from 1st November 2017. Punjab is already Land Locked State and is also Surplus in Power.

Sh. K. K. Seth Chairman & S. Gurmeet Singh Kular President FICO, appealed Captain Amarinder Singh Chief Minister Punjab & Sh. Rana Gurjeet Singh Irrigation & Power Minister Punjab to withdraw this notification with immediate effect. It is also appealed that the government should focus on quality of Power, which is very poor, and frequent power breakdowns causes huge losses to the industry and the revenue of Government. The Rate of power should be freezed at Rs. 5 per unit effective from 1st July 2017, to save the industry of Punjab, which is already going through a very crucial phase.