FICO opposes imposition of infrastructure development fee on fuel, property purchase

Ludhiana: The Punjab Government levied Special Infrastructure Development (ID) fee on petrol, diesel and purchase of immovable property with an aim to generate an additional revenue of Rs 216.16 crore. The special ID fee would be imposed at the rate of Rs 0.25 per litre each on sale of petrol and diesel within the state. Likewise, special ID fee at the rate of Rs 0.25 would also be levied for every 100 rupees of the value of purchase of immovable property within the state.

Mr. Gurmeet Singh Kular President FICO (Federation of Industrial & Commercial Organization) along with Mr. Manjinder Singh Sachdeva Senior Vice President FICO, Mr. Balbir Singh Mankoo Finance Secretary FICO & Mr. Ashpreet Singh Sahni Organizing Secretary FICO opposed the decision of the Government of Punjab to impose the Special Infrastructure Development Fee, and demanded immediate roll back. They said that the decision to impose the special ID fee on fuel will further make petrol and diesel costlier in Punjab in comparison to neighbouring Chandigarh and Haryana. The industry in Punjab is already going through the struggle phase after the lockdowns, scarcity of raw materials, and other simultaneous problems. This is the time that the government should support the industry and people of Punjab, rather than putting additional burden on them.