Has the Punjab Cabinet Approved the Conversion of Industrial Plots into Hospitals and Hotels?

Chandigarh, June 26 (NationPress) The Punjab Cabinet, under the leadership of Chief Minister Bhagwant Mann, has taken a pivotal step by approving major revisions to the state's conversion policy. This newly sanctioned policy facilitates the transformation of industrial plots into hospitals, hotels, industrial parks, and other authorized uses.

A representative from the Chief Minister's Office stated that previous conversion policies were established in 2008, 2016, and 2021.

However, industrial associations voiced their concerns regarding certain restrictive conditions present in the 2021 policy.

In light of this, a committee assessed the demands from industrialists and suggested a series of modifications applicable to freehold plots.

According to the updated policy, a conversion fee of 12.5 percent of the industrial reserve price will be imposed.

The Cabinet has also endorsed a policy that allows for the conversion of leasehold industrial plots and sheds into freehold properties, particularly for those managed by the Punjab Small Industries and Export Corporation (PSIEC).

These plots and sheds were originally allocated on a leasehold basis and contained complex clauses related to transfers, which complicated property transactions.

The revised policy is designed to streamline the management of industrial estates, improve the ease of doing business, and minimize litigation and uncertainty for allottees.

Moreover, this conversion policy is anticipated to enhance revenue generation for the state.

The Cabinet has also approved amendments to the Punjab Micro and Small Enterprises Facilitation Council Rules of 2021, under the MSME Development Act of 2006.

Currently, district-level Micro and Small Enterprises Facilitation Councils operate under the leadership of their respective Deputy Commissioners.

However, delays in executing awards linked to overdue payments under the Act were noted.

In accordance with Indian government directives, a mechanism will now be established for recovering such awards as arrears of land revenue under the Punjab Land Revenue Act of 1887.

Additionally, the Cabinet has sanctioned amendments to the service rules governing Junior Engineers (Group-B) in the Punjab Water Resources Department.

While 15 percent of Junior Engineer positions are earmarked for promotion, 10 percent of these are filled from among junior draftsmen, surveyors, etc.

Now, canal patwaris and revenue clerks with the necessary qualifications—a diploma or degree in civil, mechanical, or electrical engineering from a recognized institution—will also qualify under this reservation.

This initiative aims to incorporate experienced personnel into the department and encourage employees to pursue advanced qualifications.

To boost administrative efficiency and reduce costs, the Cabinet approved the merging of several directorates within the Department of Finance.

The Directorates of Small Savings, Banking and Finance, and Lotteries will be consolidated and renamed as the Directorate of Small Savings, Banking, and Lotteries.