Punjab Cabinet okays two OTS schemes for industrial relief
PTC Web Desk: In a significant move to provide relief to industrialists, the Punjab Government approved two One-Time Settlement (OTS) schemes during a Cabinet meeting held on Monday. The first initiative, the Land Enhancement Scheme, allows industrialists to clear their outstanding dues with an 8% simple interest rate, while waiving compounded interest and penalties.
The second scheme, related to principal amount settlements, also mandates an 8% interest rate for overdue payments. To facilitate applicants, two help desks will be established. Both schemes will remain applicable until December 31, benefiting at least 4,000 industrialists.
Announcing the decisions post-meeting, Punjab Cabinet Minister Tarunpreet Singh Sondh said the government was working on a new industrial policy aimed at surpassing standards set by other states.
The meeting, presided over by Chief Minister Bhagwant Mann, saw participation from key stakeholders, including Ludhiana-based businessman and Rajya Sabha MP Sanjeev Arora, who discussed traders' concerns with the CM ahead of the session.
The AAP government has intensified its focus on public outreach, with party supremo Arvind Kejriwal directing leaders to stay connected with people and address their grievances directly.
Meanwhile, Punjab continues its crackdown on drug trafficking, demolishing illicit properties linked to drug lords in Patiala, Rupnagar, Ludhiana, and Jalandhar. Many cases have revealed the involvement of women in drug networks.
A five-member high-power committee has also been formed to combat drug trade. Anti-corruption measures are also in full swing, with Muktsar’s Deputy Commissioner suspended over graft charges, triggering a Vigilance Bureau probe. In a related move, 10 SSPs and 6 DCs have been transferred as part of the administrative overhaul.
- PTC NEWS
