Ludhiana, May 31 (KNN) Ludhiana based industrialists declare the one time settlement (OTS) scheme launched by Punjab State Power Corporation Limited (PSPCL) meaningless as it offers only partial relief in interest payable on the outstanding amounts and majority of the disputes are not covered under it.

Jawinder Singh Thukral, president of Small Scale Manufacturers Association (SMA), said, “PSPCL’s OTS scheme has nothing for the industry and it’s merely an eyewash. There is not even a single benefit which industrialists would get if they opt to settle their disputes through this OTS.”

“First and foremost there is only concession of 9 per cent that too in interest charges which ideally are 18 per cent and there is zero concession in the principal amount. So in case a factory owner decides to go for OTS and settle his dispute, he is only going to get rebate in the interest that too not fully,” he said.

Thukral pointed out that the condition of first charging Rs 5,000 and then calculation of the net payment due under OTS scheme will discourage the consumers to opt for the scheme. “In case anyone wants to get checked how much will be his liability if he opts for settlement through it, he will first have to deposit Rs 5,000 upfront after which he will be informed about net payable amount to settle his case. In case he is okay with the amount, his advance of Rs 5,000 will be adjusted but this will not be refunded in case the settlement amount is not agreeable to the consumer,” he added.

Inderjit Singh Navyug, former president of United Cycle and Parts Manufacturers Association, said, “The industry is not going to achieve anything by settling its disputes through it. Anyone opting for the scheme will still have to pay reconnection fees.”

“Furthermore, offences like theft, unauthorised use of electricity are not covered under the OTS scheme which means there will be hardly any beneficiaries from industry. It is in best interest of industry, PSPCL and government if the OTS scheme is reformed. Full waiver of interest and concession in principal amount should be given,” he said.  (KNN Bureau)