Sectoral Committee of Bicycle Industry sends its suggestions to Punjab Government

Ludhiana, September 18, 2025: Today, the First meeting of Sectoral Committee on Bicycle Industry held under the leadership of Onkar Singh Pahwa Chairman of the Committee at Avon Cycles Limited. The Under mentioned industrial issues were marked and put forward for immediate resolution to the Government of Punjab. 

Stamp Duty on Loans: The Punjab Government had imposed the stamp duty 0.25% of the loan amount for loans sanctioned by banks/ loan crediting companies. Additionally, in the case of hypothecation and equitable mortgage, the 0.25% will be charged separately for both for the new Loan Application whether it is Business Loan, Home Loan, Car Loan, Personal Loan, Gold Loan. These added Charges of the Stamp Duty and Hypothecation Charges puts adverse effect on the ease of doing business in Punjab. It is requested that the Government of Punjab should waive off the said duties with immediate effect. 

Gas Pipe Line: Currently the Gas Pipelines has reached up to Doraha, But considering the high prices of Diesel and LPG. The PNG gas pipelines should be made available to the industry of Ludhiana; The State Government must select its own agencies to expedite the work. 

Updation of R&D Centre: There is a need to hire a regular General Manager and Technical Experts at the R&D Centre to facilitate the Bicycle industry. Also, the research facilities need to be started at the institute so that the industry can modernize and upgrade itself. Also, a BIS-certified testing laboratory must be provided to enable industrialists ensuring quality and market competitiveness. 

PSIEC’s One Time Settlement Scheme: The Committee welcome the One Time Settlement Scheme by PSIEC for Phase VIII Enhancement Case & Regularization of Plots with Simple Interest charged at 8% P.A., without any Compounding or Penal Interest. But, it is to be mentioned that the OTS has been provided on Rs. 474/- Notice, and in the Principal Notice of Rs. 474/- the Interest is Charged at the rate of 15% Per Annum.  When the Government of Punjab has declared that the Simple Interest will be calculated at 8% Per Annum, then why the Calculation from year 1995 to 2016 is being calculated at 15% Per Annum. There can't be the Dual Policy, you are requested to re-evaluate the Rs. 474/- Notice at 8% also, in OTS. 

Permanent Solutions to Industries establishments in Mixed Land Use areas: The Punjab Government has extended the Consent of Industries to operate in the Mixed Land Use Areas till September 2026, Industry is thankful to the government of Punjab for the extension, but the issue is not resolved with the extension, there is no way that the industry can be shifted. In case the government actually wants to shift the industry, they need to provide a free land bank, free of cost shifting of the power connection, and a special package for shifting of industries. A dedicated road map should be finalized and subsidy on Capital investment must also be provided. 

Amongst Present were Amarjit Singh Bains Member Secretary and ADC Ludhiana, Jagdish Singhal Eastman Group, SS Bhogal, Sanjeev Pahwa Ralson Group, Gurmeet Singh Kular President FICO, Deepak Jain, Vineet Mahajan, Angad Singh Sohi GM DIC and Amarjeet Singh President Ludhiana Sewing Machine Industries Association.