Chattisgarh government on Friday kept power tariffs unchanged for domestic and industrial use according to reports.Much awaited hike in power tariff has been ruled out looking at coming elections according to sources close to this matter. This has certainly given some relief to steel industry based in the state, which is under going a though period.
“We are glad that power prices have not gone up. Industry is not doing good at the moment. Any hike would have made situation worst. Current power prices for industrial use is in the range of Rs 4.70-4.90 per unit. A hike of 8-10% would have meant increase in production cost by almost Rs 300/MT.” said an induction furnace owner based in Raipur.
Earlier steel prices have gone up marginally on anticipation of hike in power tariff. Although with unchanged tariff, prices are likely to remain under pressure.
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