The Punjab Cabinet, led by Chief Minister Bhagwant Mann, on Thursday, approved significant amendments to the state's conversion policy, enabling the conversion of industrial plots into hospitals, hotels, industrial parks, and other permitted purposes.
A spokesperson for the Chief Minister's Office said that earlier conversion policies were introduced in 2008, 2016, and 2021.
However, industrial associations had raised concerns about certain restrictive conditions in the 2021 policy.
In response, a committee reviewed requests from industrialists and proposed a set of changes applicable to freehold plots.
As per the revised policy, a conversion charge of 12.5 per cent of the industrial reserve price will be levied.
The state Cabinet also approved a policy for converting leasehold industrial plots and sheds into freehold ones, particularly for plots managed by Punjab Small Industries and Export Corporation (PSIEC).
These plots and sheds, originally allotted on a leasehold basis, included complex clauses related to transfer, leading to complications in property transactions.
The new policy aims to streamline industrial estate management, enhance ease-of-doing business, and reduce litigation and uncertainty among allottees.
Additionally, this conversion policy is expected to generate additional revenue for the state.
The state Cabinet approved amendments to the Punjab Micro and Small Enterprises Facilitation Council Rules of 2021 under the MSME Development Act of 2006.
At present, district-level Micro and Small Enterprises Facilitation Councils function under the chairpersonship of the respective Deputy Commissioners.
However, delays were noted in the execution of awards related to delayed payments under the Act.
In line with the Indian government guidelines, a mechanism will now be created for the recovery of such awards as arrears of land revenue under the Punjab Land Revenue Act of 1887.
The state Cabinet also approved amendments to the service rules governing Junior Engineers (Group-B) in the Punjab Water Resources Department.
While 15 per cent of Junior Engineer posts are reserved for promotion, 10 per cent of these are filled from among junior draftsmen, surveyors, etc.
Now, canal patwaris and revenue clerks who hold the required qualifications, i.e., a diploma or degree in civil, mechanical, or electrical engineering from a recognised institution, and relevant experience will also be eligible under this reservation.
This step will bring experienced personnel into the department and incentivise employees to pursue higher qualifications.
For enhanced administrative efficiency and cost savings, the state Cabinet approved the merger of various directorates under the Department of Finance.
The Directorates of Small Savings, Banking and Finance, and Lotteries will be merged and renamed as the Directorate of Small Savings, Banking, and Lotteries.
Picture Courtesy: IANS
