Post meeting with officials, bizmen hopeful of respite

Industrialists in Punjab, who otherwise feel “neglected” as no benefits are given to them by the AAP government ever since it came to the power, are hopeful to get their issues resolved as an important meeting of the leading industrial associations was held with the higher-ups at Chandigarh last evening. The industrialists maintained that they were given an assurance by the government representatives that the problems will be resolved to provide respite to the industry.

Former CII president Rahul Ahuja said the meeting held at Chandigarh was ‘fruitful’ as Punjab Industry Minister, MP Sanjeev Arora and other senior officials listened to the problems. The officials were told about the issues being faced by the plot holders under the PSIEC in the focal points.

“We told them yet again to bring One-Time Settlement Policy for the plot holders as these enhancement notices had created panic among the industrialists. If there will be a OTS policy, industrialists will avail it and be free from any objections raised by the department. Secondly, if we are mortgaging our plots/property, we are asked to pay .25 per cent to the government, which actually becomes a huge amount, and we are suffering in that. Suppose some other bank offers us lesser rate of interest, we can not avail the benefit as we will again pay .25 per cent mortgage amount to the government,” said Ahuja.

FICO president Gurmit Singh Kular said a few years back, the PSIEC issued a notice of Rs 249 per square yard to Focal Point Phase VIII allottees, which was finally settled at Rs 24 per square yard. Then, again the PSIEC issued another notice and demanded Rs 474 per square yard from Focal point Phase VIII plot holders. The PSIEC have already taken 100 per cent anticipatory enhancement. Now with inclusions of interest & other charges, the cost has reached around Rs 2,500 per square yard, which is totally unjustified and unviable.

“We requested the state government that the penal interest should be immediately waived off as interest @ 21% is being charged when the rate of interest of any bank is not over 7 per cent. It was requested to release an Amnesty Scheme for the Plot holders of Phase VIII, to settle the issue once and for all during the meeting with the officials,” said Kular.

Notably, the issue of PSIEC plot holders has raised several times by the industry but to no avail. The industry hopes that it gets resolved to provide respite to the industry.