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Hindustan Times
an hour ago
- Business
- Hindustan Times
Punjab cabinet approves industrial plots' conversion
The Punjab cabinet on Thursday approved significant amendments to the state's conversion policy, enabling the conversion of industrial plots into hospitals, hotels, industrial parks, and other permitted uses. Industrial associations had raised concerns about certain restrictive conditions in the 2021 policy. In response, a committee reviewed the requests from industrialists and proposed a set of changes applicable to freehold plots. As per the revised policy, a conversion charge of 12.5% of the industrial reserve price will be levied. (HT File) A decision to this effect was taken during a meeting of the Council of Ministers held at the chief minister's official residence. Disclosing this here on Thursday a spokesperson from the chief minister's office said that earlier conversion policies were introduced in 2008, 2016, and 2021. However, industrial associations had raised concerns about certain restrictive conditions in the 2021 policy. In response, a committee reviewed the requests from industrialists and proposed a set of changes applicable to freehold plots. As per the revised policy, a conversion charge of 12.5% of the industrial reserve price will be levied. Approval for conversion of leasehold industrial plots/sheds to freehold The cabinet also approved a policy for converting leasehold industrial plots and sheds into freehold ones, particularly for plots managed by PSIEC. These plots and sheds, originally allotted on a leasehold basis, included complex clauses related to transfer, leading to complications in property transactions. The new policy aims to streamline industrial estate management, enhance ease of doing business, and reduce litigation and uncertainty among allottees. Additionally, this conversion is expected to generate additional revenue for the state. Amendments to MSE Facilitation Council Rules–2021 The cabinet approved amendments to the MSE Facilitation Council Rules – 2021 under the MSME Development Act, 2006. At present, district-level micro and small enterprises facilitation councils function under the chairpersonship of the respective deputy commissioners. However, delays were noted in the execution of awards related to delayed payments under the Act. In line with Government of India guidelines, a mechanism will now be created for the recovery of such awards as arrears of land revenue under the Punjab Land Revenue Act, 1887. The cabinet approved amendments to the service rules governing junior engineers (JE) (Group-B) in the Punjab water resources department. While 15% of JE posts are reserved for promotion, 10% of these are filled from among junior draftsmen, surveyors, work mistris, earth work mistris, and others. Now, canal patwaris and revenue clerks who hold the required qualifications (i.e., a diploma or degree in civil, mechanical, or electrical engineering from a recognised institution) and relevant experience will also be eligible under this quota. Approval to merge various directorates under dept of finance The cabinet approved the merger of various directorates under the department of finance. The directorates of small savings, banking & finance, and lotteries will be merged and renamed as the directorate of small savings, banking, and lotteries. DPED and DFREI will be merged and renamed as the directorate of public enterprises and financial resources. The directorates of treasury & accounts, pensions, and NPS will be merged into a single entity: Directorate of treasury & accounts, pension, and NPS. This restructuring is expected to save the state approximately ₹ 2.64 crore annually. The cabinet also gave consent for the creation of new posts for the state SNA treasury established in Chandigarh, in accordance with Government of India guidelines.
Indian Express
8 hours ago
- Business
- Indian Express
Punjab cabinet approves industrial plots conversion
The Punjab Cabinet on Thursday approved significant amendments to the state's land conversion policy, enabling the conversion of industrial plots into hospitals, hotels, industrial parks, and other permitted uses. A spokesperson from the Chief Minister's Office on Thursday said that earlier conversion policies were introduced in 2008, 2016, and 2021. However, industrial associations had raised concerns about certain restrictive conditions in the 2021 policy. In response, a committee reviewed the requests from industrialists and proposed a set of changes applicable to freehold plots. As per the revised policy, a conversion charge of 12.5 per cent of the industrial reserve price will be levied. Punjab minister Aman Arora told the media after the Cabinet that the amendment in conversion policy will be applicable on industrial plots in focal points and industrial estates. He said there was a huge demand for allowing the conversion. The overall development had come to a standstill due to wrong policies of previous governments. The incumbent government has brought about a conversion policy under which change in land use (CLU) will be allowed for plots in industrial estates for hotels, hospitals, banquet halls, EWS worker housing, hostels, rental housing, office spaces and institutes. These were not allowed in the industrial estates. He said any plot measuring between 1000 to 4000 square yards would be allowed to be converted. He also said that 40,000 square yards plots will be allowed to be converted into industrial parks. Under the conversion, 60 per cent of the area would be used for industrial, 30 per cent for residential and 10 per cent commercial purposes. These would be freehold properties. This will fasten the development. This was a long pending demand. The previous government had not accepted it. Arora said that the new policy will help the state government earn revenue. 'We are not able to make an estimate as of now. We do not know how many plots will be converted. After that we will be able to give an estimate.' Nod for conversion of leasehold industrial properties to freehold The Cabinet also approved a policy for converting leasehold industrial plots and sheds into freehold ones, particularly for plots managed by PSIEC. These plots and sheds, originally allotted on a leasehold basis, included complex clauses related to transfer, leading to complications in property transactions. The new policy aims to streamline industrial estate management, enhance ease of doing business, and reduce litigation and uncertainty among allottees. Additionally, this conversion is expected to generate additional revenue for the state. Aman Arora said that with the new policy 20 per cent of reserved price would have to be paid by the property owner for converting leasehold properties to freehold properties. 'This will help us earn at least Rs 1,000 crore annually,' he said. Amendments to MSE Facilitation Council Rules – 2021 The Cabinet approved amendments to the MSE Facilitation Council Rules – 2021 under the MSME Development Act, 2006. At present, District-level Micro and Small Enterprises Facilitation Councils function under the chairpersonship of the respective Deputy Commissioners. However, delays were noted in the execution of awards related to delayed payments under the Act. In line with Government of India guidelines, a mechanism will now be created for the recovery of such awards as arrears of land revenue under the Punjab Land Revenue Act, 1887. Approval of Amendments to Punjab Water Resources Department Junior Engineers (Group-B) Service Rules The Cabinet approved amendments to the service rules governing Junior Engineers (JE) (Group-B) in the Punjab Water Resources Department. While 15 per cent of JE posts are reserved for promotion, 10 per cent of these are filled from among Junior Draftsmen, Surveyors, Work Mistris, Earth Work Mistris, and others. Now, Canal Patwaris and Revenue Clerks who hold the required qualifications (i.e., a diploma or degree in Civil, Mechanical, or Electrical Engineering from a recognised institution) and relevant experience will also be eligible under this quota. This move will bring experienced personnel into the department and incentivise employees to pursue higher qualifications. Approval to merge various directorates under the finance dept For enhanced administrative efficiency and cost savings, the Cabinet approved the merger of various directorates under the Department of Finance. The Directorates of Small Savings, Banking & Finance, and Lotteries will be merged and renamed as the Directorate of Small Savings, Banking, and Lotteries. DPED and DFREI will be merged and renamed as the Directorate of Public Enterprises and Financial Resources. The Directorates of Treasury & Accounts, Pensions, and NPS will be merged into a single entity: Directorate of Treasury & Accounts, Pension, and NPS. This restructuring is expected to save the state approximately Rs 2.64 crore annually. Approval for creation of new posts for State SNA Treasury The Cabinet also gave consent for the creation of new posts for the State SNA Treasury established in Chandigarh, in accordance with Government of India guidelines. Under centrally sponsored Schemes, funds are now transferred via the SNA SPARSH system. To operationalise the State SNA Treasury, the creation of the following nine posts was approved: district treasury officer, treasury officer, two senior assistants, four clerks, and one peon.
