CICU flays PSEB move

The action of the Punjab State Electricity Board (PSEB) to issue notices to deposit increased amount of security has been condemned by CICU.

“This action of the PSEB has sent shock waves in the industrial sector,and the industrialists will oppose this move of the PSEB tooth and nail. Though the board will pay interest on the security deposited by the consumers,the industrialists are not in a position to deposit additional security,which will run into lakhs of rupees. Deposition of revised security will mean blocking of the huge working capital,which is neither possible for large industries nor small industries in view of the on-going recession,” said Avtar Singh,general secretary of the CICU.

He urged Chief Minister Punjab Parkash Singh Badal to direct the chairman,PSEB,Patiala,not to issue any notice for additional security and the orders already issued may be taken back.