FICO strongly opposed Punjab Government’s order to impose penalty on renewal of trade license

Ludhiana, April 7, 2022: A meeting of Federation of Industrial & Commercial Organization (FICO) under the leadership of Gurmeet Singh Kular, President, FICO alongwith Harpal Singh Bhamber, Head, FICO Bicycle Division held regarding the imposing of penalty on renewal of trade license with a direct penalty of Rs.1000 after 31st March 2022 along with Rs.100 per day additional penalty. 

FICO strongly opposed such harsh decision of the Punjab government, and demanded for immediate roll back from Bhagwant Mann, Chief Minister, Punjab. 

Kular said that the industry of Punjab, especially the MSME sector are struggling for survival due to un-rational hike in prices of raw material, this is the time that the state government must hand hold the industry, but these kinds of harsh impositions will only increase the troubles of the industry. 

Harpal Singh Bhamber said that due to Covid restricts, the municipal corporations could not arrange mega camps for industrial trade license renewals, otherwise many industrialists would have got their licenses renewed in mega camps organized by industrial associations.