The consumers are bound to pay 72.24 paisa per unit for the interest paid by the PSPCL to the banks and other financial institutions. The consumers are bound to pay 72.24 paisa per unit for the interest paid by the PSPCL to the banks and other financial institutions. INDUSTRY in the state Has sharply objected to a proposed power tariff demand by the Punjab State Power Corporation Limited (PSPCL), and has sent their objections to Punjab State Electricity Regulatory Commission (PSERC). PSPCL has proposed an increase of 15.9 per cent in the tariff order. Badish Jindal, President of Federation of Small Scale Industries Association, said, “PSERC asked our suggestions and we have strongly objected to this proposed hike. On one hand it is decreasing its thermal production. It was 18,326 million units in 2009-10 to 4727 in 2018-19 just to give space to private players, thermal production of PSPCL’s own units is decreasing, but expenditure is increasing, which we are not able to understand.” The consumers are bound to pay 72.24 paisa per unit for the interest paid by the PSPCL to the banks and other financial institutions. Industrialists also reasoned that interest being paid on present loan taken by PSPCL is Rs 3104 crore, which is costing 72.24 paisa per consumer. Consumer is thus paying for the loss making venture PSPCL, said Gurmeet Singh Kular, President of Federation of Industrial and Commercial Organisation( FICO). Local industry also complained that PSPCL had been purchasing equipment needed for the department from outside state rather than facilitating the local industry and even excise and taxation department had also issued notice of Rs 633.18 crore to PSPCL for not paying entry tax and matter is pending in Supreme Court. Industrialists firmly argued that PSPCL should not raise tariff and pass on its losses to the consumers. For all the latest Chandigarh News, download Indian Express App

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