NT24 NEWS LINK: OVER POWER SUPPLY TO INDUSTRIAL CONSUMERS AT COMPETITIVE RATES...

CII WELCOMES GOVERNMENT OF PUNJAB’S DECISION OVER POWER SUPPLY TO INDUSTRIAL CONSUMERS AT COMPETITIVE RATES

NT24 NEWS

PUJA GUPTA 

CHANIDGARH

CII welcomes Government of Punjab's decision to continue with Power tariff and subsidies as such in FY 2022-23 for all categories of consumers of Punjab. Hailing the decision, Mr Amit Thapar, Chairman, CII Punjab remarked that This is very welcome step for Punjab’s industry and shows proactiveness of government to help remain Punjab competitive. We have big disadvantage geographically and this gives us edge and confidence to invest further in Punjab. Mr Thapar further shared that CII had been engaging with government to get this extended and we are presenting data shortly how will this benefit in growth and employment generation, if this continues for another 4 years apart from this financial year. 

Adding on Dr P J Singh, Vice Chairman, CII Punjab & Managing Director, Tynor Orthotics Limited shared that, Power is a major input Cost for Key Industrial sectors in the state including Engineering, Textiles, Steel etc. As Punjab has big locational disadvantage of being away from sources of Raw Material & shipping. To offset this disadvantage which Punjab's Industry has to bear, it becomes imperative that at least the Power for Industrial consumer is supplied at competitive rates. Dr Singh added that Cheaper Power to Industry will have a Positive domino effect on Industrial growth as well as Employment generation in the state.