Home Punjab PSPCL gave thousand watt shocks to its employees, pensioners; Is profit making powercom turns to loss making?

PSPCL gave thousand watt shocks to its employees, pensioners; Is profit making powercom turns to loss making?

PSPCL gave thousand watt shocks to its employees, pensioners; Is profit making powercom turns to loss making?
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PSPCL gave thousand watt shocks to its employees, pensioners; Is profit making powercom turns to loss making?

Kanwar Inder Singh/ royalpatiala.in News/ February 1,2024

In a surprise move, Punjab’s lifeline Punjab state Power Corporation limited (PSPCL) has made a huge cut in the January 2024 salary, pensions of its employees, pensioners.

The powercom has given Rs 30,000 to its employees and Rs 20,000 as pension to its pensioners for the month of January 2024.

Pensioners said ” these are symptoms of serious diseases known as freebies. Govt failed to give subsidy and there is only part payment of pension/ pay. Balances uncertain. The disease seems to be going out of hand. ”

Jasvir Singh Dhiman, President of the engineers association informed that this is unprecedented in the history of PSPCL/PSTCL, that both corporations have been unable to pay the salaries and pensions of its employees. He said that the Punjab government is one of the biggest defaulters of PSPCL, in terms of non- payment of electricity bills for its own establishments. Bills of around 3100 Cr are pending with various departments.

Meanwhile PSPCL director finance Surinder Beri couldn’t be contacted despite repeated attempts to know about the reasons of pay, pension cut. PSPCL gave thousand watt shocks to its employees, pensioners; Is profit making powercom turns to loss making?

PSPCL gave thousand watt shocks to its employees, pensioners; Is profit making powercom turns to loss making?

Even Punjab State Power Corporation Limited (PSPCL) had claimed in November 2023 that it had earned a profit of Rs 564.76 crore during the peak season of the year ending October, against a loss of Rs 1,880.25 crore during the corresponding period last year

Around two months ago, in December 2023 “Punjab State Power Corporation Limited (PSPCL) in its annual revenue requirement (ARR) had mentioned that it will be surplus by Rs.1558 crores next year based on present tariff”. Practically it this implies that PSPCL has not sought any tariff increase for next year.

Pay Cut: employees alleged govt department failure to clear power bill, power purchase @ 10 per unit deteriorated the situation

Soothing News: No tariff hike likely in Punjab next year- PSPCL in profit