After getting a three-month breather on the deadline to pay enhancement fee, Focal Point Phase-7 industrial units have sought an interest waiver from Punjab Small Industries and Exports Corporation (PSIEC).
Reportedly, the PSIEC has issued notices to around 700 allottees in Phase 7 asking them to shell out ₹830 per square yard (including interest) as enhancement fee for the plots. Industrialists, however, contend that the principal enhancement amount is ₹68 per square yard.
Now, that the deadline to pay the fee has been extended from June 30 to September 30, the industry is pushing the government to waive off interest on pending payment.
Focal Point Phase 8 Industrial Association president OP Bassi said, “Had the deadline not been extended, industrialists would have had to pay the enhancement fee with an added 21% compound interest with retrospective effect from 2016, when the notices were first served. However, the government should waive off the interest being charged on pending fee in this time of crisis. Even under the amnesty scheme of the government, 15% interest on pending payment is being charged, which is not acceptable.”
Industrialists rued that the government had already collected 100% anticipatory enhancement from the industry, while allotting plots and notices had been served yet again for recovery of fee.
{{/usCountry}}Industrialists rued that the government had already collected 100% anticipatory enhancement from the industry, while allotting plots and notices had been served yet again for recovery of fee.
{{/usCountry}}Federation of Industrial and Commercial Organisation (FICO) president Gurmeet Singh Kular said six years ago, the department had issued notices for recovery of ₹249 per square yard as enhancement charges but the matter was finally settled at ₹24 per square yard. “The government should waive off the interest. The industry is happy to pay the principal amount. This additional financial burden will burden industrialists, who are already reeling due to the pandemic.”
Focal Point Phase 8 Industrial Association chairperson Rajnish Ahuja said the industry is in talks with the government for waiving off the interest. PSIEC chairperson Gurpreet Gogi said the industry will get at least three months extension and this period might be extended further.
“A proposal for one-time Settlement (OTS) of enhancement fee has been forwarded to the government by the department for waiving off interest. The final decision has to be taken by the government,” said Gogi.