What makes Punjab industrialist pay highest ever advance power bill

Ludhiana:  Everybody must have to contribute in whatever measure one can ranging from simple adherence to prescribed safety protocol to donating money or assets, to voluntarily joining the governments’ in delivery of relief materials  if the war against deadly Coronavirus has to be won.

Realising this, Sanjay Gupta, who owns industrial furnaces in the name Oasis Enterprises at Mandi Gobindgarh, known as the ‘steel town’ of Punjab set a precedent of its own kind. He has emerged as the only entrepreneur, who on April 13, the Baisakhi Day, voluntarily responded to a public appeal by Punjab State Power Corporation Limited (PSPCL) and deposited whopping Rs 10 Crore as advance payment of estimated six-month bill against the power consumption at his furnaces.

Confirming this, Chief Engineer, Central Zone, PSPCL, Ludhiana, Daljit Inderpal Singh Grewal highly appreciated the gesture. “I personally spoke with the industrialist and thanked him for responding to our public appeal. This is the highest ever advance payment made by any individual industrial consumer to the PSPCL,” he said.

The funds-starved PSPCL had recently offered its consumers of all categories to make advance payment of their respective estimated power bills up to March 2021 to the extent they can through digital modes. Doing so, they can earn an interest @1% per month. Thus, they will earn interest almost @12% which is double the rate of interest on fixed deposits.

For Gupta, the gesture is product of his deep realization that this is an unprecedented crisis that has hit humans across the barriers, so everybody must contribute in whatever measure one can during the extended curfew/lockdown period to keep the public utility institutions like the PSPCL running. “All other personal considerations must take backseat. It’s time of morally called for something you may terms as futuristic funding by all those who can afford,” Gupta told this writer over phone.  

This is a smart move on the part of the PSPCL also as the big ticket advance payments received by it would help boost its fiscal health during the curfew/lockdown period. “I have asked all the Executive Engineers in my jurisdiction to approach the big industrial houses based at Ludhiana to chip in the way Mr Gupta has done. Let’s hope for a positive response from them as well. The entire amount of Rs 10 Crore was credited into the account of the PSPCL yesterday. He has also committed to make more advance payment,” added Grewal.