Punjab Chief Minister Parkash Singh Badal on Thursday
gave his nod to slash the Value Added Tax (VAT) from 12
per cent to 5 per cent on material or equipment
purchased for power generation, transmission and
distribution by the Punjab State Power Corporation and
the Punjab State Transmission Corporation. A government
spokesperson said the chief minister had taken the
decision to safeguard the interests of the local
industry. It would not only boost the financial
viability of these corporations but also immensely
benefit all categories of consumers across the state by
ensuring far better efficiency in the system of power
generation, transmission and distribution, the
spokesperson added.
