Punjab Cabinet Approves Industrial Plot Conversions

Chandigarh, Jun 26 (PTI) The Punjab Cabinet on Thursday approved amendments to the state's conversion policy, paving the way for the conversion of industrial plots into hospitals, hotels, industrial parks, and other permitted uses.

A decision to this effect was taken during a meeting of the Council of Ministers, chaired by Chief Minister Bhagwant Mann here.

A spokesperson from the chief minister's office said earlier conversion policies were introduced in 2008, 2016, and 2021.

However, industrial associations have raised concerns about certain restrictive conditions in the 2021 policy.

In response, a committee reviewed 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.

The cabinet also approved a policy for converting leasehold industrial plots and sheds into freehold ones, particularly for plots managed by the Punjab small industries and export corporations.

It aims at streamlining industrial estate management, enhancing ease of doing business, and reducing litigation and uncertainty among allottees, said the spokesperson.

Additionally, this conversion is expected to generate additional revenue for the state.

In another move, 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 the central government 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 also approved amendments to the service rules governing junior engineers (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', earthwork 'mistris', and others.

Now, canal 'patwaris' and revenue clerks, who hold the required qualifications 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.

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 and finance, and lotteries will be merged and renamed as the directorate of small savings, banking, and lotteries.

The Directorate of Public Enterprises and Disinvestment and the Directorate of Financial Resources and Economic Intelligence 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. This restructuring is expected to save the state approximately Rs 2.64 crore annually.