PRAGATIVADI:LEADING ODIA DAILY

Breaking News


Headlines

Steep hike in electricity duty to hit investment: CII

electricity duty

Bhubaneswar: The Confederation of Indian Industry (CII) today condemned the steep hike in electricity duty effected by the state government recently and said it would be counter-productive to attracting investments in the state.

Prominent industries of Odisha, including Nalco, JSPL, Vedanta, Hindalco, PPL, MCL, JSL, IMFA, Nava Bharat, Tata Steel, Tata Iron & Sponge, FACOR and Maitahan, as well as representatives of industries’ associations like CII, UCCI, Captive Power Plant Federation, FICCI and Aluminium Association of India on Tuesday had a consultative meeting under the chairmanship of CII Odisha chairman and Nalco CMD Dr Tapan Kumar Chand on the issue of the recent steep hike of 83% in electricity duty for captive power plants (CPPs).

The Aluminium Association of India and others made a presentation on the damaging implications of the steep electricity duty hike on the industries as well as the investment climate in the State. The hike from Rs 0.30/kwh to Rs 0.55/kwh would increase the cost of production by Rs 4,000 per tonne of aluminium metal and by Rs 400 per tonne of steel and make the industries uncompetitive severely as compared to that of the neighbouring States and overseas.

Notably, the Captive Power Plant Federation has already moved court and obtained an interim order to keep the differential increased amount in a separate account till the disposal of the case.

The industries’ bodies pointed out that all neighbouring States with whom the products of Odisha compete in domestic market are having electricity duty within the range of 0% (Andhra Pradesh and Telangana) to 32% (Chhattisgarh).

Comments

Most Popular

Follow us on

Archives

Subscribe Our News

Enter Your Email Address

Copyright © 2016 Pragativadi. Powered by 4u Software Solutions

To Top