FICO urges to save Ludhiana industry from displacement 

Ludhiana: Today, A delegation of Federation of Industrial & Commercial Organization (FICO) under the Leadership of Mr. Gurmeet Singh Kular President FICO along with Mr. Surinder Pal Singh, Chairman Focal Point 34 Acre association (Mangli), Mr. Gagnish Khurana Head Agricultural Implements Division FICO met Mr. Damanjit Singh Mohi, O.S.D. to Captain Amarinder Singh Chief Minister Punjab along with Mr. Gurpreet 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.

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. 

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. 

Mr. Gurmeet Singh Kular President FICO demanded immediate withdrawal of the notices issued to save the industry of Ludhiana, the industry is already hit bad by the COVID-19 and the Rise of Steel Prices. This is the time when the government should support the industry.