The Bangalore Chamber of Industry and Commerce (BCIC) has stated that power tariff hike in Karnataka will erode the industry’s bottom lines and lead to higher inflation. M Lakshminarayan, president, BCIC, expressed concern over the Karnataka Electricity Regulatory Commission (KERC) approving a tariff hike of 25 paise per unit for industry and commercial consumption.
BCIC termed the proposed power tariff hike as untimely and will add to industry’s burden. The industry is already facing severe hardships due to unscheduled power cuts across the State and is struggling to manage its production and growth. The hike will only further aggravate the situation and will erode the bottomlines of the industry, which is already facing multiple challenges due to poor off take of inventories, Lakshminarayan said.
Meanwhile, country's industry body Associated Chamber of Commerce and Industry of India (Assocham) has welcomed the tariff order. Reacting to minor increase, J Crasta, Co-Chairman, Assocham Southern Regional Council, said the nominal hike in tariff was inevitable and was not likely to place any undue burden on industries.
At the same time, he hoped, the revised tariff would help improve financial situation of the State power utilities. Regarding provision for regular increase in tariff through fuel cost adjustment mechanism, Crasta said that this was perhaps long overdue and would help utilities adjust their tariff in line with actual fuel cost. Thus, the quantum of annual increase in tariff would go down.
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