MOVE TO BENEFIT 1145 INDUSTRIALISTS ACROSS PUNJAB
INDUSTRIALISTS CAN AVAIL THIS SCHEME BY DECEMBER 31, 2025
Punjab Newsline, Chandigarh, March 3-
In a major reprieve to the industrialists of the state, Punjab Cabinet led by CM Bhagwant Singh Mann on Monday gave nod to introduce a historic One Time Settlement (OTS) scheme to resolve more than four decades old pending cases to provide long-awaited relief to industrialists. A decision to this effect was taken in a meeting of the Council of Ministers held under the chairmanship of the Chief Minister here at his official residence today.
Disclosing this here today a spokesperson of the Chief Minister’s Office said that this OTS scheme will facilitate the industrialists to settle industrial disputes related to enhanced land costs and delayed principal payments thereby ensuring that long-standing grievances of industrialists are resolved in a fair and transparent manner. Approximately 1145 industrialists across Punjab will benefit from this scheme, allowing them to clear their dues and reinvest in their businesses, leading to economic growth and job creation.
The scheme will apply to defaulter plot holders whose original allotment was issued on or before January 1, 2020, ensuring that long-pending cases are addressed effectively.