Industrialists seek withdrawal of notices issued to them

Neeraj Bagga

Tribune News Service

Amritsar, December 11

Industrialists and their associations have written to Punjab Small Industries and Export Corporation Limited (PSIECL) requesting it to withdraw the notices issued to them for cancelling the allotment of vacant industrial plots at Focal Points in the border city.

Kamal Dalmia, chairman, Focal Point Industries Association, in a communiqué to the PSIECL managing director, Rajat Agarwal, stated that several members of his association had received notices asking them to submit a reply within 30 days. He said the notices stated that as to why the allotment of their plots not be cancelled as they had committed the breach of condition and thus they had lost their right of possession of the plot in terms of condition of the allotment letters.

Darshan Singh Goraya, president, said, Focal Point Industries Association, the main reasons for not putting up new projects at the allotted plots in Focal Point are many.

“The market conditions have been adversely affected due to demonetisation and implementation of the Goods and Services Tax. No businessman will go for investment in any venture and burn hands if the market conditions within country and worldwide are not supportive,” he added.

He said its negative impact was reflected on inflation and weak rupee in the international market and the cost of putting up a new project had increased tremendously. 

Goraya added that banks had also stopped financing new projects following mounting non-performing assets in the country.

He said consequently, the cost of construction, machinery procurement and working capital had jacked up. 

Hence, the cost of establishing new units had increased many fold, he added.

The industrial fraternity is also concerned over the non-availability of basic amenities such as a sewerage system, proper roads, regular electricity and potable drinking water in industrial areas.