Taking a step toward industrial reform and administrative efficiency, the Punjab Cabinet on Thursday approved two crucial policies — the conversion of leasehold industrial plots to freehold, and permission for change in land use (CLU) of industrial plots for non-industrial purposes. These long-awaited measures are expected to unlock economic potential across the states industrial belts.   The states New and Renewable Energy Minister Aman Arora, addressing the media alongside Industry Minister Tarunpreet Singh Sond after the Cabinet meeting, said that these reforms were introduced in response to persistent demands from industrialists and entrepreneurs. These decisions will simplify business operations, boost investment, and generate significant revenue for the state, said Arora.   Under the revised policy, industrial plots between 1,000 and 4,000 square yards can now be utilized for commercial ventures such as hotels, hospitals, hostels, and convention centres — a shift from the previous restriction to purely industrial activity. Additionally, plots of 40,000 square yards or more can be developed into industrial parks, with 60 percent area reserved for industrial purposes, 30 percent for residential use, and 10 percent for commercial development. All such plots will be treated as freehold, ensuring ownership clarity and ease of transaction.   For leasehold plots allotted by the Punjab Small Industries and Export Corporation (PSIEC), the Cabinet approved their conversion to freehold at a nominal rate of Rs 20 per square yard. This move is expected to fetch over Rs 1,000 crore for the state while reducing litigation and ambiguity in property dealings. A conversion charge of 12.5 percent of the industrial reserve price will be applicable for freehold plots seeking change in land use.   The Cabinet also gave its nod to amendments in the MSE Facilitation Council Rules-2021, under the MSME Development Act. Going forward, awards related to delayed payments to micro and small enterprises can be recovered as arrears of land revenue under the Punjab Land Revenue Act-1887, ensuring faster resolution of payment disputes.   In a move to enhance administrative efficiency and reduce redundant expenditure, the Cabinet approved the merger of various directorates under the Finance Department. The Directorates of Small Savings, Banking and Finance, and Lotteries will now function as a single unit named the Directorate of Small Savings, Banking and Lotteries.   Similarly, DPED and DFREI will be merged into the Directorate of Public Enterprises and Financial Resources. Treasury and Accounts, Pensions, and NPS will also be consolidated under the Directorate of Treasury and Accounts, Pensions and NPS. This restructuring is projected to save the state Rs 2.64 crore annually.   To operationalize the newly established State SNA Treasury in Chandigarh — mandated under Government of India guidelines for centrally-sponsored schemes, the Cabinet approved the creation of nine posts, including a District Treasury Officer, Treasury Officer, two Senior Assistants, four Clerks, and one Peon.   Further, the Cabinet amended service rules for Group-B Junior Engineers in the Water Resources Department. Canal Patwaris and Revenue Clerks holding diplomas or degrees in Civil, Mechanical, or Electrical Engineering will now be eligible for promotion under the 10 percent reserved quota — a move aimed at recognizing field-level experience and encouraging skill upgradation.   Rijiju meets Himachal CM   Shimla: Union Minister for Parliamentary Affairs and Minority Affairs Kiren Rijiju called on Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu at his official residence, Oak Over on Thursday. It was described as a courtesy call.

Stay updated with all the Chandigarh Latest News headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.