FICO opposes 2.74% hike of electricity charges on industry
Author(s): City Air NewsA meeting of FICO being held at Ludhiana on Saturday. Ludhiana, August 23, 2014: A meeting of Federation of Industrial & Commercial Organisations (FICO), Ludhiana was held under the presidentship of Gurmeet Singh...
Ludhiana, August 23, 2014: A meeting of Federation of Industrial & Commercial Organisations (FICO), Ludhiana was held under the presidentship of Gurmeet Singh Kular today regarding the 2.74% hike of electricity charges on industry retro respectively from April 1 this year by the Punjab State Power Corporation Ltd (PSPCL). The meeting observed that it is totally unjustified to recover from the customers to whom PSPCL has already sold the material. Punjab being the major hydel power generation state should not increase the tariff.
The meeting felt that Punjab State Electricity Regulatory Commission imposed power tariff on industry on KVA. Earlier it was on KWH. It is totally against the industry because it will increase minimum up to 10% increase of electricity charges automatically. This will increase the input cost of raw material. The meeting requested to the government to withdraw it otherwise industry have to shift in other states. Industries have to pay power factor surcharge if they could not maintained the power factor so government should roll back it to KWH.
Harjeet Singh Sondh Vice Chairman (FICO), Manjinder Singh Sachdeva President Bicycle Research & Development organisation (BRADO), Rajeev Jain Secretary (FICO), Jagatvir Singh President Ludhiana Bicycle & Engineering Park, Harpal Singh Bhamber President Janta Nagar Small Scale Manufacturers Association and Bachittar Singh General Secretary Ludhiana Industrial Area-C Manufacturers Association were among those present.