Increased power tariff to prove fatal for the MSMEs in Punjab: FOPSIA

New Delhi, Oct 25 (KNN) Despite the assurance by the state government that the power tariff would be locked at 5 rupee per unit for the industrial sector, the sudden rise in the power tariff by over 12 per cent is not in the good taste for the Micro, Small and Medium Enterprises (MSMEs) of the state, Federation of Punjab Small Industries Association (FOPSIA) said.

Badish Jindal, President of FOPSIA informed that after the popular announcement of the government following the roll out of the industrial policy for the state, the industrial sector was hoping relief.

Contrary to the expectations, the Punjab State Electricity Regulatory Commission’s announcement of increasing the power tariff is to prove fatal for the MSMEs, Jindal said.

Citing number, Jindal informed that the PSERC had approved the increase of 12 per cent from 5.47 rupees to 6.12 rupees for small power connections, 9.5 per cent 5.99 rupees to 6.57 rupees for medium power connections and 8.5 per cent 6.35 rupees to 6.89 rupees for large supply consumers.

Along with the hike, there is an order issued to recover the increased rate from back date of April 1, 2017, this is another reason leading to a lot of anxiety in the sector, Jindal informed.

Also the industrial sector have demanded for an immediate consideration of the concerns, following which the industry might have to approach the court to voice their concerns. (KNN/DA)