Punjab's Vision for Industrial Land Transformation

The Punjab Cabinet has approved key amendments to the state’s industrial plot conversion policy, enabling the repurposing of industrial plots for alternative uses such as hospitals, hotels, and industrial parks. The decision was taken during a Council of Ministers meeting chaired by the Chief Minister.

The revised policy addresses concerns raised by industrial associations regarding restrictive provisions in the 2021 policy framework. Under the new guidelines, a conversion charge of 12.5% of the industrial reserve price will apply to freehold plots. In a parallel move to simplify land transactions, the Cabinet also approved a policy to convert leasehold industrial plots and sheds managed by the Punjab Small Industries and Export Corporation (PSIEC) into freehold properties. These reforms are expected to facilitate smoother property transfers, improve the ease of doing business, and reduce legal disputes.

Additionally, the Cabinet approved amendments to the MSE Facilitation Council Rules, 2021 to expedite the recovery of delayed payments to micro and small enterprises (MSEs). As per the revision, awards issued by the Council will now be recoverable as arrears of land revenue under the Punjab Land Revenue Act, 1887, strengthening enforcement mechanisms and ensuring quicker redressal for small businesses.

News by Rahul Yelligetti.