Giving a relief to industrialists, Punjab Government on Friday decided to allow extension in time-period to the defaulter allottees of industrial plots, developed by Punjab Small Industries and Export Corporation Limited (PSIEC) in different focal points in the state, for the commencement of construction and production after the expiry of original stipulated and last extended period.
“All defaulter industrial plot holders of different focal points, developed by PSIEC in state, have been allowed an extension in time period for commencement of production up to September 30, 2020,” announced the state Industry and Commerce Minister Sunder Sham Arora.
He made it clear that the extension in time period shall be allowed on payment of extension fee chargeable per year at the rate of one percent of the current reserve price of the plot fixed by the Corporation in the concerned focal point operative at the time of making payment.