E-Paper
Ludhiana industry body seeks 1.5-year relief to end under-construction projects
Industrialists rued that large number of firms had planned expansion of businesses, but could not do so because of economic constraints
As the industry has taken a hit amid the nationwide Covid-19 lockdown, the Federation of Industrial and Commercial Organisation (FICO) on Monday has urged Punjab industries and commerce minister Sham Sundar Arora to extend the deadlines to end under-construction projects and to submit building plans.
The industrialists rued that large number of firms had planned expansion of businesses, but could not do so because of economic constraints.
They sought a 1.5-year extension in the deadline for submission of plans (June 30, 2019, to December 31, 2020).
They also demanded an extension in the last date to commence construction and business against the plots allotted by Punjab Small Industries and Export Corporation (PSIEC) in focal point areas from September 30, 2019, to March 31, 2021, and September 30, 2020, to March 31, 2022.
Gurmeet Singh Kular, president of FICO, and Rajeev Jain, general secretary, said, “We are aware that due to the pandemic-induced lockdowns, the industry has been reeling under losses and is not in a position to spend on construction and commence production in new units. Also, it will take some time to revive. Hence, we have urged the government to extend the deadlines.”
Kular said, “Chief minister Captain Amarinder Singh has provided relief to real estate sector with a six-month extension in the permissible period of construction. But no relief has been provided to industry.”
“If any industrialist fails to complete construction within the deadline, 10% no construction charges are imposed by the government and the allotment is cancelled on non-payment of charges,” said Kular.
