The Punjab Government has issued two new notifications to make the state more attractive for industries and investors. These changes come from the Industries & Commerce Department and the Housing and Urban Development Department.
Ministers Sanjeev Arora and Hardeep Singh Mundian said all promises made to industrialists during the Udyog Kranti Conclave by AAP leader Arvind Kejriwal and Chief Minister Bhagwant Mann will be fulfilled soon. Their goal is to bring more industries to Punjab and create jobs for the youth.
One major change is the option to convert leasehold industrial plots and sheds into freehold, under the Punjab Small Industries and Export Corporation (PSIEC). This step aims to boost investor confidence and improve ease of doing business in the state.
Another key update is to the Conversion Policy, which now allows industrial plots to be used for hospitals, hotels, industrial parks, and other approved uses. A conversion charge of 12.5% of the reserve price will apply. Earlier versions of the policy from 2008, 2016, and 2021 had faced criticism from industrial groups due to restrictive conditions.
However, the Mohali Industries Association has raised concerns. Its general secretary, Dilpreet Singh Boparai, appreciated the steps taken on issues like fire NOC issuance but objected to the sharp rise in conversion charges. He pointed out that the previous fee of Rs 20 per square yard has now been replaced with a rate of 5% of the current reserve price, which is much higher.
Boparai warned that this sudden increase could slow down industrial growth, scare off investors, and put extra pressure on businesses. The association has urged the Punjab Government to review and lower the charges to support the industry’s progress.
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