President Business Forum Punjab (BFP) Ibrahim Qureshi has welcomed the Exit Policy 2012 for the allottees of Sundar Industrial Estate, under which allottees of the Sundar Industrial Estate who have not yet started industrialisation process can now transfer/sale their plots in a year time. The Board of Directors of Punjab Industrial Estates (PIE) has announced "Exit Policy-2012" recently.
As per "Exit Policy-2012" all existing plot owners/allottees are allowed to transfer their plots during the period 15 March 2012 to 14 March 2013. However, those who have preferred litigation and filed cases in the court can also avail the facility subject to withdrawal of the cases.
Qureshi said the business propositions have changed altogether since November 2007 when unprecedented energy crisis hit the country, particularly the industrial sector of Punjab. He said making new investments has become difficult for business community in a situation when energy crisis has already crippled the industrial growth.
He said about 40 percent of capacities have been closed down in textile industry in Punjab due to severe energy crisis and 80 percent of textile industry is located in Punjab. The general industry is also passing through similar situation due to factors like energy shortages and unfavourable law and order situation. Chairman BFP, Nabeel Hashmi said the Exit Policy 2012 of PIE would help accelerate colonisation process in the Sundar Industrial Estate. Earlier, the PIE management had restricted the customers/allottees to sell or transfer their plot before completion of three months of the sale deed or production.
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