Psiec: City industrialists criticize PSIEC’s policy, appeal to state govt

Times News NetworkLudhiana: In a letter to the state government, the Federation of Punjab Small Industries Association has demanded that plots purchased in focal points of industries be “freed” from the interference of the Punjab Small Industries and Export Corporation (PSIEC). The association alleged that despite paying the full price, plot holders were threatened with cancellation of plots on dubious grounds. Due to this, most people were hesitant to buy plots in focal points. Industrialists alleged that PSIEC even cancelled plots purchased decades ago just because the plot holders failed to organise the unit on time. Instead of ascertaining the reason, the department quickly cancelled the plots, the letter said. Association president Badish Jindal said, “The scale of slavery is such that even if a plot holder wants to manufacture a new product, he will have to take permission from PSIEC. In case of changing the name of the company in a registered plot, a long process has to be followed and if the plot has to be sold, the plot holders have to visit PSIEC for months. In some cases, even after paying the stipulated price of the plot, the plot owners were asked to pay more to increase the price. The entrepreneurs had to pay crores to the department. Plot owners in Focal Point Phase 8 in Ludhiana were issued notices worth lakhs to increase the price years after purchasing the plot.” He added that the entrepreneurs who had bought acres of plots decades ago were not allowed to divide the plot. “When there is a division in a family or a company, the entrepreneurs are forced to sell the plot as the PSIEC does not give permission to any plot owner to divide it. Such strict rules are not available in any other state in industrial areas. In many cases, the entrepreneurs want to sell a part of the land to repay the bank loan but have to lose the entire plot due to the dictatorship of the department,” Jindal said. He demanded that the plot owners should be given freedom in matters like transfer of the company name, change of partnership, change of subject matter etc.

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