PSPCL comes up with OTS scheme

PSPCL comes up with OTS scheme
Chandigarh: Punjab power minister Harbhajan Singh on Tuesday announced the launch of a one time settlement (OTS) scheme, a three-month long initiative of Punjab State Power Corporation Limited (PSPCL) to settle pending bills for all consumers — industrial, domestic, and commercial, running or disconnected.
The govt offers the consumers simplified terms to clear pending dues by Dec 22.
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Under the OTS scheme, a simple interest of 9% will be charged on pending defaulting amounts and 10% for the consumers who move court, compared with the existing 18% compound interest. Fixed charges will be waived for periods below six months, and only six months of fixed charges will apply for periods beyond. There is also a provision now for payment in four easy instalments,
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