Punjab Newsline, Chandigarh, March 11-
Cabinet minister Tarunpreet Singh Sond has thanked CM Bhagwant Singh Mann for introducing the OTS to resolve old pending cases, to provide long-awaited relief to industrialists of Punjab.
Sond said that OTS scheme will facilitate the industrialists to settle industrial disputes related to enhanced land costs and delayed principal payments thereby ensuring that long-standing grievances of industrialists are resolved in a fair and transparent manner. He said that, as per the scheme, the government will provide a significant financial relief measure by allowing defaulters to clear dues with a nominal simple interest rate of 8%, along with a 100% waiver of penal interest. “The last date to avail of this scheme is December 31, 2025, providing ample time for defaulters to come forward and clear their outstanding dues”, he added.
Industry minister informed that the scheme will apply to defaulter plot holders whose original allotment was issued on or before January 1, 2020, ensuring that long-pending cases are addressed effectively. He said that approximately 1145 industrialists across Punjab will benefit from this scheme, allowing them to clear their dues and reinvest in their businesses.
