Punjab Cabinet gives nod to initiatives to boost industry, commerce

Chandigarh, Sep 24 (IANS) The Punjab Cabinet led by the Chief Minister Bhagwant Mann on Wednesday gave nod to initiatives to boost industry and commerce, to give impetus to its economy.

A decision to this effect was taken at a meeting of the Council of Ministers held here.

A spokesperson for the Chief Minister’s Office said the Cabinet gave approval to introduce Punjab One-Time Settlement Scheme for Recovery of Outstanding Dues, 2025 to reduce the compliance burden of legacy cases and will enable trade and industry to enhance their compliance.

The Punjab One Time Settlement Scheme for Recovery of Outstanding Dues, 2025, will be implemented from October 1, 2025, and will remain in force till December 12.

The taxpayers whose assessments have been framed till September 30 and all the rectification, revision and amendment of assessment orders have been passed by the department till September 30 under the relevant Act(s).

The Cabinet also approved to introduce One Time Settlement (OTS) Policy for Rice Mills, 2025 as each miller is bound to settle its account with each state procurement agency after the milling period is over so that such miller may be considered for the allotment of paddy for custom milling of the next year.

Some rice mills over the years have not deposited their outstanding dues due to which these millers have been declared defaulter and legal and arbitration proceedings have been initiated against such millers.

Such proceedings have been pending with various courts and legal forums for the past many years.

The new OTS has been introduced to minimise the litigation cases of all the agencies, settlement of the cases under the policy so that sick rice units are functional again and revival of industrial units to create more employment opportunities in the state.

Likewise, it will also act as a catalyst for smoother and expedite lifting of the paddy from the mandis.

The Cabinet also gave its consent to amend Section 5(1), 5 (3) (ii) and Section 5 (8) of the Punjab Apartment and Property Regulation Act, 1995.

This will ensure the development of colonies and areas in a proper and planned manner thereby mitigating the problems faced by the public.

The Cabinet also gave approval to recommendation of prosecution sanction against former minister Sadhu Singh Dharmsot under Section 197 (1) of Code of Criminal Procedure (Section 218 of BNSS 2023) and under Section 19 of Prevention of Corruption Act 1988 as amended by P.C. (Amendment) Act 2018 and under Section 197 of Code of Criminal Procedure.

--IANS

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