Dispute Action Committee, FICO strongly opposed the extension of time fee, imposed by PSIEC

Ludhiana, July 4, 2019: A meeting of FICO (Federation of Industrial & Commercial Organization) has been held under the chairmanship of Gurmeet Singh Kular President, and discussed regarding the Public Notice Issued by the PSIEC (Punjab Small Industries & Export Corporation Limited) for the fee imposed for Extension of Time, for the unconstructed, allotted plots in the various focal points. Also some of the members have received the notices to deposit enhancement cost of Rs.1790/- per sq. yard. FICO strongly opposed the both.
Gurmeet Singh Kular, President, FICO said that it is well known that Today the compensation what stands for the Phase VIII Allottees is nearly Rs.1000/- per Sq. Yard, which is a huge burden & harassment on the small industry situated in the Phase VIII. It is also notable that the PSIEC is not demanding anything for those units who were allotted with land costing Rs. 1000/- or More. There are many vacant sites for the industrial & the commercial use, which can be sold by PSIEC to compensate the costing rather than pressurizing the already existing units. Also imposing of the Extension of Time Fee of 1%, along with the burden of Rs.1790/- per sq. yards, it a burden on already struggling industry of Punjab, processes like these will ultimately result in the closure of the industry, which is not at all good for the Punjab’s economy, so we request PSIEC to kindly reconsider these orders.
Today, Dispute Action Committee has been formed, Gagneesh Khurana will be the convener of the same, FICO appealed to the industry minister to kindly withdraw these harsh notices, issued to the industry.
It is our humble request that as per the “No Enhancement Policy” of Haryana State Industries Development Corporation, the same should also be applicable in Punjab so as to facilitate the Industry of Punjab, demanded the meeting.
Amongst present were Gurmeet Singh Kular President, Gagneesh Singh Khurana, S. P. Saini, Gurpreet Singh, Gajjan Singh and Ramesh Kumar.