Industrialists sore

S.A.S. NAGAR, July 21: The industrialists of Punjab have expressed their anguish over the proposed 33 per cent hike in power tariff in th...

S.A.S. NAGAR, July 21: The industrialists of Punjab have expressed their anguish over the proposed 33 per cent hike in power tariff in the state for industrial and domestic sectors. The have felt that the industry in Punjab as also elsewhere in the country is going through a major recessionary phase and the proposed hike in tariff will make the industry in Punjab totally uncompetitive and unviable.

Expressing his concern over the hike, the CII chairman of Punjab State Council, Rakesh B. Mittal said that the proposed step of the Punjab government to

raise the tariff would squarely affect the fresh investment inflows and also ruin the existing industry.

The availability of power at competitive rates till recently was one of major factor for Punjab in terms of attracting fresh investments, Mittal added.

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The Mohali and Dera Bassi Industries Associations have also opposed the steep hike in the power tariff. The association president and general secretary, R.S. Sachdeva and Jagjit Singh, respectively, said this had happened despite the fact that the SAD-BJP government had promised record growth and had predicted 1998 to be the year of industry. The hike will have disastrous consequences, coming especially at a time when the industry is facing recession, he added.

The industrialists have further pointed out that this unprecedented hike in power tariff in the state had been done to make up the revenue losses caused by the free power supply to farmers.

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