Increased power tariff will destroy MSME industry: FICO

Ludhiana: 
Punjab State Electricity Regulatory Commission (PSERC) has released the new power tariff applicable from 01.06.2021 to 31.03.2022.

Federation of Industrial & Commercial Organization (FICO) organized a review meeting at FICO Secretariat under the Chairmanship of Gurmeet Singh Kular President FICO. FICO Strongly opposed the HIKE of Rs.20 per KVAh in fixed charges, also there is hike of 7 paisa per KVAh for Industrial Connections under Large Supply Category in the Power Tariff for 2021-22. 

Kular keeping the current scenario of second wave of COVID-19 in consideration where retail is closed through out the country due to lockdown, industry is struggling for its survival, and hiking the fixed charges and tariff is totally unfair and unjustified. This is the time when government should support the industry. Need not to mention that the industry in Punjab is getting the most expensive electricity as compared to the neighboring states of Punjab. This decision will not hit the most vulnerable MSME Sector of Punjab.

Moreover, the reduction in Domestic Tariff for under 2 KW Category is just an eye wash, merely an election stunt. The government if wanted to provide relief, they should have actually provided benefit to all domestic users.

Amongst present were Mr. Manjinder Singh Sachdeva Senior Vice President FICO, Mr. Rajeev Jain General Secretary FICO, Mr. Raghbir Singh Sohal Head FICO Plywood Division, Mr. Harpal Singh Bhamber Head FICO Bicycle Division and Mr. Gurmukh Singh Rupal Head FICO Sewing Machine Division