Industrialists lock horns with PSEB over ACD

Industrialists of the city have categorically said that they will not be paying even a penny of the increased security charges levied by Punjab State Electricity Board (PSEB).

The members had organised a press conference on Thursday. It has already been mentioned that PSEB has sent notices to the industrialists to pay annual consumption deposit (ACD) which will be equal to electricity bill aggregate of two months of any consumer. The industrialists said that they would on go on hunger strike and dharna if the PSEB forced them to pay ACD. They added that PSEB should set their own house in order before asking for more money from consumers.

The induction furnaces would be the worst-hit,said K.K. Garg,president of Induction Furnace Association of India,and PD Sharma,president of Apex Chamber of Commerce and Industry.

Sharma said,“The incremental credit deposit ratio is 26%,which indicates the state-of-affair on bank lending and hence in such condition,induction furnaces have been asked to pay in crores,because their bills are in crores every month.”