Bangalore Chamber of Industry and Commerce (BCIC) on Tuesday expressed anguish over tariff petitions filed by the five electricity supply companies (Escoms) before the power regulator seeking a hike in power tariff by 70 paise.
In a release, BCIC president M. Lakshminarayan said: “The industry is facing severe hardships due to unscheduled power cuts in the State. It is struggling to manage its production and growth. The proposed hike of 70 paise per unit will only aggravate the situation and may erode profit margins of the industry which is facing multiple challenges. This will have a cascading effect by triggering an increase in prices leading to higher inflation.”