Punjab induction furnaces face Rs 30 cr production loss
About 150 induction furnaces in Punjab face a production loss of Rs 30 crore per day due to the indefinite power cut imposed on the sector.
By PTI |
LUDHIANA: About 150 induction furnaces in Punjab face a production loss of Rs 30 crore per day due to the indefinite power cut imposed on the sector.
The production loss of furnaces has also created an acute shortage of raw material for state's light engineering industry, industry representatives said here on Monday.
"We are facing a production loss of Rs 30 crore per day due to the power cut imposed on us. Since we are unable to carry out any production activity, the light engineering industry including bicycle, auto parts, hand tools etc has also started feeling the shortage of raw material for production," Induction Furnace Association of North India President K K Garg told reporters here.
To put pressure on the state government for withdrawing power cuts on induction furnaces, several industrial associations of Punjab today converged together and threatened to hold chain hunger strikes from August 24.
Garg said, "now we have decided to hold chain hunger strike in order to pressurise the government to meet our demands".
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Punjab State Electricity Board has recently imposed complete power cut on induction furnaces of Punjab in view of the ongoing power crisis in the state.The induction furnaces of Punjab produce almost 8500 MT of steel ingots per day, which are fed to several types of Punjab's light engineering industries.
With shutting down of furnaces, the steel consuming industries are facing acute shortage of raw material for production.
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