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FICO asks state govt to relax norms

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Gurmeet Singh Kular, president, and Rajeev Jain, general secretary, Federation of Industrial and Commercial Organisation (FICO), have requested Punjab Industries & Commerce Minister Sunder Sham Arora to allow extension of date for submission of business plan, construction & commencement of business.

In their representation, FICO said: “As you are well aware due to the Covid-19 crisis and subsequent lockdowns, it has become very difficult for all our units to keep themselves self-sustainable and make any profits.”

The members said, “In these conditions, they are on their knees and not in a position to spend on construction or expansion of factory premises. Also, the industry would need time to get back to normal and reassess the business strategy. The industry in Punjab has been struggling in the past couple of years due to slump in the market and recession.”

“A large number of businesses/individuals had planned expansion of businesses and setting up of new units, but could not do so because of the economic factors and could not start business in land allotted by the PSIEC in various Focal Points in Ludhiana.”

They also added, “Keeping in view the entire situation, it is requested that the non-construction charges be waived and extension of minimum 1.5 years to be given for submission and approval of building plans, commencement of

construction and commencement of production,” the Federation of Industrial and Commercial Organisation members added. The members have also appealed that in this duration, no plots should be cancelled.

Source :tribuneindia

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