FICO opposed new enhancement notice of Rs 830 per sq yard by PSIEC

Ludhiana: Today, Federation of Industrial & Commercial Organization (FICO) strongly opposed the New enhancement notice of Rs.830/- per Sq. Yard issued by the PSIEC. Mr. Gurmeet Singh Kular President FICO along with Mr. Jagatvir Singh Joint Secretary FICO, Mr. Satnam Singh Makkar Propaganda Secretary FICO & Mr. Gagnish Khurana Head Agricultural Implements Division FICO, 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 from Captain Amarinder Singh Chief Minister Punjab, and demanded One Time Settlement for PSIEC Plot Holders.

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. Now 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 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. 

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.

Amongst Present were Mr. Surinder Pal Singh, Chairman Focal Point 34 Acre association (Mangli), Mr. Satya Pal Saini Secretary Focal Point 34 Acre association (Mangli).