Chandigarh, Feb 16 (KNN) Providing major relief to industrialists in Punjab, the state government has decided to allow extension in in time period to the defaulter allottees of industrial plots, developed by Punjab Small Industries and Export Corporation Limited (PSIEC), for the commencement of construction and production.

The State Industry and Commerce Minister, Sunder Sham Arora announced “All defaulter industrial plot holders of different focal points, developed by PSIEC in state, have been allowed an extension in time period for commencement of production up to September 30, 2020.”

He said that the extension in time period be allowed on payment of extension fee chargeable per year at the rate of one percent of the current reserve price of the plot fixed by the Corporation in the concerned focal point operative at the time of making payment. (KNN/YV)