FICO opposed proposed 4% to 6% hike by Punjab State Power Regulatory Commission
Author(s): City Air NewsA meeting of FICO office bearers being held at Ludhiana. Ludhiana, August 12, 2014: A meeting of FICO office bearers held under the chairmanship of K.K Seth, Chairman, Federation of Industrial & Commercial Organisation...
cityairnews
Aug 12, 2014 12:30
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A meeting of FICO office bearers being held at Ludhiana.
Ludhiana, August 12, 2014: A meeting of FICO office bearers held under the chairmanship of K.K Seth, Chairman, Federation of Industrial & Commercial Organisation (FICO). It opposed the proposed 4% to 6% hike by Punjab State Electricity Regulatory Commission.
Industry is already facing financial crunch & PSERC proposed 6% increase in electricity charges with retro respective April 1, 2014. It will be a huge burden on industry because we already sell our products as per electricity rates which were settled a decade earlier. There were number of increases for which we could not pass on to our buyers due to competition. So we request to withdraw such proposed increased, said Gurmeet Singh Kular, President, FICO.
He added industry needs 24 uninterrupted supply, said Manjinder Singh Sachdeva, General Secretary, FICO.
Harjeet Singh Vice chairman, Padam Aul, Bhupinder Singh Hunjan, Rajesh Mongia, Harish Kumar, Jasdeep Gambhir and Vinod Jain were among those present.
