MP Arora assures fulsome support to Industry from Punjab govt in future
Chandigarh/ Ludhiana, March 5, 2025:
Leading industrialists under the banner of Apex Chamber of Commerce and Industry (Punjab) led among others by the Chamber’s president Rajnish Ahuja and convener Rahul Ahuja highly thanked MP (Rajya Sabha) and `AAP’ candidate from Ludhiana (West) assembly constituency Sanjeev Arora for getting the state government led by Punjab CM Bhagwant Singh Mann to introduce a historic One Time Settlement (OTS) scheme to resolve more than four decades old pending cases to provide long-awaited relief to industrialists.
Addressing a press conference at Circuit House here today, the industry leaders Rajnish Ahuja, Rahul Ahuja, Upkar Singh Ahuja (CICU), OP Bassi, Sandeep Jain, Ajit Lakra and others in the presence of Sanjeev Arora said the issue was pending for the last many decades, resulting to which the industry was suffering a lot. They said the growth of the industry was badly hampering, adding that they were pursing to resolve this issue since 2016. They said they had brought this issue before Arora about two years ago and since then Arora has been pursuing to resolve this matter amicably.
Speaking on the occasion, Arora thanked AAP convenor Arvind Kejriwal, Punjab CM Bhagwant Mann and Punjab Industry Minister Tarunpreet Singh Sond for acceding to the long-pending demand of the industry. He added that Approximately 1145 industrialists across Punjab will benefit from this scheme, allowing them to clear their dues and reinvest in their businesses, leading to economic growth and job creation. These industrialists collectively employ thousands of people, and the financial relief provided by the OTS scheme will further stabilize businesses, prevent closures and lead to new employment opportunities.
Adding, Arora reiterated 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. Industrial plots, sheds and residential plots in Industrial Focal Points developed by Punjab State Industries Export Corporation (PSIEC) across Punjab will be covered under this scheme, making it a broad-based initiative for industrial revival. 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.
Replying to a question, Arora said this initiative will enhance Punjab’s reputation as an industry-friendly state, attract new investments, and create an environment conducive to business growth. 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. This move is expected to spur industrial growth, strengthen Punjab’s economy, and reaffirm the government’s commitment under the leadership of Punjab CM Bhagwant Singh Mann to supporting businesses and job creation in the state.
Arora said OTS was one of the major issues of the industry, which has been finally resolved. He said he had asked various industrial associations to submit him their charter of demands and every organisation has demanded OTS. He said it also gives an impression that almost all major issues of the industry have been resolved in the last a couple of years.
Replying to another question, he assured that he will make all out efforts for the setting up of a state-of-the-art exhibition centre in Ludhiana. He requested the industrial organisations to give him representations in this regard. He said he is always ready to serve the industry and people of Ludhiana.
Answering another question of the media, Arora said he will make Ludhiana a model city, if elected from Ludhiana (West) assembly seat. He also highlighted his achievements as the Rajya Sabha Member from Ludhiana in the last about three years.
