Bizmen demand one time settlement scheme from PSIEC

Ludhiana: City businessmen having plots in focal points are demanding that Punjab Small Industries and Export Corporation (PSIEC) brings out one time settlement (OTS) scheme for the cases of enhancement of land costs.
According to the businessmen, there are a large number of ongoing disputes with the PSIEC over the issue of enhancement of land cost imposed on them even after they built their factories on the plots allotted by the PSIEC and these disputes have been pending for several years. For a speedy redress of these issues and ending of the dispute amicably between the allotment holder and the PSIEC, OTS scheme should be introduced at the earliest.
Speaking on the issue, Gurmeet Kular, president of Federation of Industrial and Commercial Organisation (FICO), said, “There is a huge number of pending disputes related with land enhancement and these have been running for years now. Take the case of demand notices issued by the PSIEC to the allotees of the Focal Point, Phase VIII, where Rs 474 per square yard is being charged on account of compensation of enhancement of rates, the decision on this is still pending in court. But due to the PSIEC slapping the enhancement cost on us and sending us notices, the entire factories situated in the Phase VIII are suffering as all our works related to financial institutes, including banks, are on hold due to wait for clearance certificate from the PSIEC.”
He said, “Moreover, the industrial units established in Focal Point, Phase VIII, cannot get their credit limits enhanced from banks due to this pendency and they can’t get their bank accounts transferred, which is hitting the industry very badly and its growth has been stalled. Moreover, according to new industrial policy-2017, not even a single application from any industrial unit from Focal Point, Phase VIII, who wants to get the benefits of Invest Punjab policy of the government of Punjab, has been processed due to the same reason”
Kular added, “Recently, we met PSIEC chairman Gurpreet Gogi and have apprised him about our demand of bringing OTS policy for the enhancement cases. Gogi has understood our point of view and he has assured us that he will take the required steps to resolve this long pending issue at the earliest.”
According to Rajeev Jain, general secretary of FICO, “As the case related to enhancement of land cost of Focal Point, Phase VIII, is still pending in court, how can we pay the charges without waiting for court’s decision. But even then we are ready to provide an undertaking to the PSIEC that we will abide by the decision and shall pay whatever the court decides. We also request the PSIEC that all matters related to the financial institutions or new investment schemes in accordance with the new industrial policy of Punjab should not be affected by the pendency of clearance certificate from the PSIEC to the industrialists.”