Ludhiana: The city businessmen feel relived since Punjab industries minister Gurkirat Singh Kotli has extended the interest-free period for those holding Punjab Small Industries and Export Corporation’s plots. The owners of Focal Point factories and plots that lie in the PSIEC’s jurisdiction wanted this relaxation to recover from the economic impact of Covid-19 pandemic.
In a statement issued on Saturday, Kotli had said: “Keeping in view the economic slowdown and resultant disruption in the supply chain as a result of Covid-19 Pandemic in previous years, we have decided to extend the policy of the relief to the PSIEC plot holders once more, from September 16, 2021, to December 31, 2021.”
Welcoming the decision, Ludhiana MSME (micro, small, and medium enterprises) association president Harish Kairpal said: “We are grateful to the industry minister for accepting our long-pending demand of waiving the interest that the PSIEC charged under various schemes and for various offences. Kotli on Saturday gave the PSIEC plot holders three more months of interest relief. The old deadline had expired on September 16, 2021.”
United Cycle and Parts Manufacturers Association (UCPMA) former president Inderjit Singh Navyug said: “The extension of the interest-free period is a big relief to the local industry, as the focal points are home to many factories and this waiver applies to all the schemes. For all intents and purposes, the PSIEC will charge us no interest or penal interest. The business had suffered unprecedented disruption during the first and second waves of Covid-19.”
The industrial focial points of the state are otherwise in a a pitiable condition and these factory zones need upgraded infrastructure such as internal roads, street lights and sewerage networks. They bore the brunt of the lockdown.
In a statement issued on Saturday, Kotli had said: “Keeping in view the economic slowdown and resultant disruption in the supply chain as a result of Covid-19 Pandemic in previous years, we have decided to extend the policy of the relief to the PSIEC plot holders once more, from September 16, 2021, to December 31, 2021.”
Welcoming the decision, Ludhiana MSME (micro, small, and medium enterprises) association president Harish Kairpal said: “We are grateful to the industry minister for accepting our long-pending demand of waiving the interest that the PSIEC charged under various schemes and for various offences. Kotli on Saturday gave the PSIEC plot holders three more months of interest relief. The old deadline had expired on September 16, 2021.”
United Cycle and Parts Manufacturers Association (UCPMA) former president Inderjit Singh Navyug said: “The extension of the interest-free period is a big relief to the local industry, as the focal points are home to many factories and this waiver applies to all the schemes. For all intents and purposes, the PSIEC will charge us no interest or penal interest. The business had suffered unprecedented disruption during the first and second waves of Covid-19.”
The industrial focial points of the state are otherwise in a a pitiable condition and these factory zones need upgraded infrastructure such as internal roads, street lights and sewerage networks. They bore the brunt of the lockdown.
