FICO demands OTS for PSIEC plot holders in enhancement case from CM Punjab

Ludhiana: K.K. Seth Chairman FICO and Gurmeet Singh Kular President FICO (Federation of Industrial & Commercial Organization) demanded One Time Settlement for PSIEC Plot Holders in Focal Point Enhancement Case from Capt Amarinder Singh Chief Minister Punjab, as the MSME Sector is already struggling for survival due to curfews and lockdowns.

They explained that how almost 6 years back 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 PSIEC have again issued a notice and demanded Rs.474/- per square yard from Focal point Phase VIII allottees, whereas PSIEC have already taken 100% anticipatory enhancement. Now with inclusions of interest & other charges the cost has reached around Rs.1000/- per square yard, which is totally unjustified and unviable. This is to also to bring to your notice that due to the PSIEC Enhancement Pendency, the industry situated in Phase VIII is suffering a lot, as all the works related to all financial institutes including banks are stagnant so is the growth of the industry, as the financial institutes demand the Clearance Certificate from PSIEC. 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. The industrialists in Phase VIII Focal Point are demanding for One Time Settlement Solution with PSIEC, just like the Property Tax and other departments under the OTS Scheme. It is also notable that the OTS for every government department has been issued except the PSIEC.