Tribune News Service

Ludhiana, June 11

The Federation of Industrial and Commercial Organisation today demanded one-time settlement for PSIEC plot holders in the Focal Point Enhancement case from Chief Minister Captain Amarinder Singh.

The chairman of FICO, KK Seth, said the MSME Sector was already struggling for survival due to curfews and lockdowns and needed the relief of one-time settlement.

The president of the organisation, Gurmeet Singh Kular, said almost six years back, the Punjab Small Industries and Export Corporation (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. Now again, the PSIEC has issued a notice and demanded Rs 474 per square yard from the allottees whereas it had already taken 100 per cent anticipatory enhancement, he added.

“With inclusions of interest and other charges, the cost has now reached around Rs 1,000 per square yard, which is totally unjustified and unviable. Owing to the PSIEC enhancement pendency, the industry situated in Phase VIII is suffering a lot as all works related to financial institutes have been put on hold as they demand a clearance certificate from the PSIEC,” Seth said.

“The ‘No Enhancement Policy’ of the Haryana State Industries Development Corporation should also be applicable to Punjab to facilitate the industry in the state. The industrialists at Focal Point, Phase VIII, are demanding for one-time settlement solution from the PSIEC, just like property tax and other departments under the OTS Scheme,” Kular said.