Punjab Newsline, Chandigarh, March 14-
To provide long awaited relief to industrialists of Punjab, the state government has issued notification regarding One Time Settlement (OTS) Scheme for recovery of pending dues of enhanced land cost and principal cost from defaulter plot holders of PSIEC.
Industry and Commerce Minister, Punjab Tarunpreet Singh Sond has thanked CM Bhagwant Singh Mann for introducing the OTS scheme to resolve more than four decades old pending cases to provide long awaited relief to industrialists. He said that the Council of Ministers in its meeting held on 3rd March, 2025 has considered to implement a One Time Settlement (OTS) scheme and within 10 days, the notification has been issued. He said that this move is expected to spur industrial growth, strengthen Punjab's economy and reaffirm the government's commitment to supporting business.
A spokesperson said that as per the notification, OTS Scheme shall be applicable only on Principal Cost of Plot and Enhanced Land Cost of plot.