Punjab Newsline, Chandigarh, September 24-
Punjab Power Minister Harbhajan Singh ETO on Tuesday announced the launch of the One Time Settlement (OTS) Scheme, a three-month initiative by the Punjab State Power Corporation Limited (PSPCL) to settle pending amounts for all consumers, including industrial, domestic, and commercial connections, whether running or disconnected.
Revealing this in a press communiqué issued here, the Power Minister Harbhajan Singh ETO said that this scheme presents a golden opportunity for electricity consumers, offering simplified terms to clear pending dues by December 22, 2024. Under the OTS Scheme, a simple interest of 9% will be charged on pending defaulting amounts and 10% for the consumers who indulge in court cases, compared to the existing 18% compound interest. Additionally, fixed charges will be waived for periods less than six months, and only six months of fixed charges will be applied for periods exceeding six months.
Disclosing further, the Minister said that the OTS Scheme also introduces a provision for payment in four instalments, whereas existing instructions do not provide for instalment payments.