The Bangalore Chamber of Industry and Commerce (BCIC) today expressed serious concern over the 100 percent water tariff hike for industries by saying the Tariff revision is too steep and unsustainable for the industry. The Karnataka government has hiked tariff of water drawn from reservoirs, canals, lakes, dams and used for industrial purposes by nearly 100 times, from Rs 3,200 to Rs 3 lakh for every million cubic feet (MCft).
Mr. Kishore Alva, President BCIC & Joint President (Project Dev, CSR & Corporate Affairs) Adani - Udupi Power Corporation Ltd said: “We would have given a better perspective had the government consulted us before effecting the change in Tariff as it adversely impacts very large number of companies in the State. The financial burden would be unmanageable, especially in sectors like power, iron and steel sectors as they operate on thin margins.”
Mr. Kishore Alva said: “The CM may not be aware of the move as it could be among the last decisions of the previous government. We’ll apprise him of our concerns and request him to roll back the decision.”
BCIC is of the opinion that the adhoc increase of this nature are detrimental for the sustainability of manufacturing sector in the State and are not in consonance with the stated objectives of the State with regard to Ease of Doing Business.
Mr. Kishore Alva
Joint President (Project Dev, CSR & Corporate Affairs)
Adani - Udupi Power Corporation Ltd