FICO demands withdrawal of enhancement notice from chairman PSIEC

Ludhiana: A delegation of Federation of Industrial & Commercial Organization (FICO) under the Leadership of Mr. Gurmeet Singh Kular President FICO along with Mr. Gagnish Khurana Head FICO Agricultural Implements Division met Mr. Gupreet Singh Gogi Chairman PSIEC and strongly opposed the Notices of Rs.830 per square yard being issued by PSIEC to Focal Point Phase VIII Plot Holders regarding the pending enhancement case and demanded One Time Settlement for PSIEC Plot Holders.

OTS in Pending Enhancement Case
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. Then 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 Penal interest & other charges the cost has reached around Rs.830/- 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 and demanded One Time Settlement for PSIEC Plot Holders.

Impact of Pending Enhancement Case
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, moreover, industrialists of Focal Point Phase VIII are not being able to adapt the Invest Punjab policy of government of Punjab, due to the given reason itself. This is the time when the government should support the industry.
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Infrastructure of Roads in Focal Point Phase VIII Mangli
The industrialists unanimously thanked the Chairman PSIEC for the construction of very good quality road networks in various focal points, and demanded that the road network in Focal Point Phase VIII Mangli 34 Acre should also be taken into consideration and construction work should be started over there at the war footage. 

FICO also thanked PSIEC for the extension of dates for Submission of Building Plan & depositing the enhancement changes. 

Amongst Present were Mr. Surinder Pal Singh, Chairman Focal Point 34 Acre association (Mangli), Mr. Bikramjit Singh President Focal Point 34 Acre association (Mangli), Mr. Satya Pal Saini Secretary Focal Point 34 Acre association (Mangli), Mr. Manjit Singh Bara, Mr. Swaran Singh, Mr. Navneet Kapoor Executive Member FICO.