CHIEF MINISTER OFFICE PUNJAB

CHIEF MINISTER OFFICE PUNJAB


PUNJAB CABINET APPROVES RS.2 LAC AS FINANCIAL ASSISTANCE
TO EACH FAMILY OF FARMERS & FARM LABOUR WHO COMMITTED SUICIDE

CABINET RESOLVES TO IMPLEMENT FIFTH PAY COMMISSION REPORT

CHANDIGARH MARCH 2:
The Punjab Government today decided to provide financial assistance to the tune of Rs.2 lac each to the families of farmers and farm labour who committed suicide on account of farm indebtedness.
A decision to this effect was taken in the meeting of the Council of Ministers chaired by the Punjab Chief Minister Mr. Parkash Singh Badal here at Punjab Bhawan this morning.
Disclosing this here today a spokesman of the Punjab Government said that the Cabinet also decided to cover all such cases of suicide upto the year 2000 and thereafter and directed all the Deputy Commissioners to provide the financial assistance of Rs. 2 lac per family in case of farmers and farm labour who committed suicide.
The Cabinet also approved One Time Settlement (OTS) scheme in order to provide relief to the existing sick Industrial units under the proposed new industrial policy 2009. Under the scheme the state level financial institutions like Punjab State Industrial Development Corporation, Punjab Agro Industries Agro Corporation and Punjab Financial Corporation would rehabilitate the sick units through OTS.
Under the OTS, loan upto Rs.1 lac would be charged as principle plus expenses outstanding (o/s), in case of loan from Rs.1 lac to Rs.5 lac it would be principle plus expenses o/s plus 20% of outstanding interest (interest would be 10% of o/s interest in case of death of all the promoters) as on the date of decision, for loans from Rs.5 lac to Rs.30 lac it would be principle plus expenses o/s plus 40% of o/s interest as on the date of decision. Likewise, for loans from Rs.30 lac and above it would be charged as principle plus expenses o/s plus 50% of o/s interest as on the date of decision and incase for loans where mortgaged assets are sole the formula would be principle plus expenses o/s plus 10% of o/s interest as on the date of sale. The relief on loans advanced to ex-servicemen and riot affected families for transport upto 2 vehicles prior to 1995 would be given the benefit of paying only the balance of principal amount of the loan.
In another decision, the Cabinet also approved to upgrade the post of Chief Coordinator in Udyog Sahayak to the rank of Additional Director with the same nomenclature for the implementation of Punjab industrial Facilitation Act, 2005 in the right earnest.
It may be recalled the state government had implemented the Punjab industrial Facilitation Act, 2005 to attract maximum investment in Punjab as lot of emphasis was being laid to enforce the effective system of granting clearances to entrepreneurs in a time bound manner under the Act.
The Cabinet also approved to withdraw of the termination letter issued on October 10, 2002 of 787 Panchayat Secretaries who are working in the Rural Department and Panchayats and whose services have been regularized by the council of ministers on January 1, 2009.
The Cabinet also gave approval for amending the Section 7 of the Rural Development Act, 1987 to promote better agriculture for higher production including agri business and agri processing, accelerate comprehensive rural development including the construction/repair of rural roads, streets, street lights, dharamshalas, panchayat ghars, canals, drains etc. The amended Act would also enable the establishment of government education and health infrastructure and government veterinary hospital and dispensaries in rural areas or up gradation and improvement thereof, besides carrying out such other purposes as may be considered necessary by the Board in the interest of and for benefit of producers and the persons paying the fee including the dealers.
The Cabinet also approved Punjab Stamp (dealing of under valued instruments) (first Amendment) Rules, 2009 for charging of stamp duty in case of allotment of immovable property by government/semi government organizations. The consideration amount fixed at the time of such allotment by these organizations would be deemed to be the collector’s rate and the stamp duty would be charged for registration of document upon the consideration amount fixed by the government/semi government organization, provided that document is got registered by the original allottee within three months from the issue of this notification or within three months from the payment of last regular installment as per schedule of payment of such allotment.
The Cabinet also resolved to accept in principle the recommendations of the Fifth Punjab Pay Commission w.e.f. January 1, 2006 immediately after the report was submitted by the Commission to the state government. The commission was likely to give its report within next week, the spokesman added.

No.CMO-09/ 72