FICO opposes proposed 3-times hike in Factory Licence Renewal Fee and 5 Years Advance

Ludhiana, November 7, 2014: A meeting of Federation of Industrial & Commercial organisations (FICO), Ludhiana held under the chairmanship of K.K Seth regarding proposed 3-times hike in Factory Licence Renewal Fee and 5 Years Advance by Punjab Government.

The meeting observed that it has now been learnt that the state government is going to enhance the renewal fee of factory licence by three times, meaning thereby where the renewal fee is Rs. 15000, it would be Rs. 45000 for the year 2015. Simultaneously one has to deposit the renewal fee of 5 years in advance. Earlier it was only for the particular year.

It further observed that industry is already facing many problems and owing to the same, most of them made up their mind to shift their units from Punjab.  The renewal fee is already very much high, but this three times increase and 5 years advance is not at all acceptable to the industry.

Industry is opposing and it will not deposit the enhanced charges, the meeting observed.

Gurmeet Singh Kular president, Harjeet Singh Sondh Vice Chairman, Vipan Mittal Senior Vice President, Manjinder Singh Sachdeva General Secretary, Rajeev Jain Secretary, Jagatvir Singh Joint Secretary, Balbir Singh Mankoo Finance Secretary and others were present.

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