Ludhiana/Chandigarh- In a groundbreaking achievement for Punjab's industrial sector, Aam Aadmi Party (AAP) Rajya Sabha Member Sanjeev Arora has successfully persuaded the Punjab Small Industries & Export Corporation (PSIEC) to reduce the interest rate on industrial plots to a simple 8%, these were the words of the representatives of Apex Chamber of Commerce and Industry (Pb.) This decision addresses years of grievances faced by industrialists and is being hailed as a historic win for the industrial community in Punjab.
Addressing the media, Sanjeev Arora said, “This decision is not just about reducing interest rates; it is about reviving industrial growth in Punjab and enabling industrialists to focus on their businesses without the burden of compounding financial stress. AAP remains committed to creating an environment where industries can thrive, and I thank the Punjab government, PSIEC, and the Finance Department for their cooperation in making this possible.”
Arora highlighted that this reform resolves longstanding issues that were neglected by previous governments, leaving the industrial community struggling under compounded interest rates of up to 22%. He emphasized that the AAP-led government’s decision demonstrates its dedication to business-friendly policies that support economic growth and employment generation in Punjab.
The industrial community in Phase 8 Industrial Area, which has faced significant challenges due to policy stagnation and high financial burdens, has expressed immense relief. The revised rate not only simplifies financial obligations but also lifts restrictions on selling plots, adding partners, and introducing new projects.
Sanjeev Arora explained, “The 8% simple interest rate aligns with the Supreme Court’s directives and ensures that PSIEC will see increased revenues as industrialists are now empowered to clear dues without financial distress. This decision benefits over 700 industrialists directly and indirectly contributes to the revival of Punjab’s industrial ecosystem.”
President of the Phase 8 Industrial Association, Rajnish Ahuja, applauded MP Sanjeev Arora’s dedication:
“Sanjeev Arora ji has truly been a champion of our cause. His logical advocacy and consistent efforts with PSIEC and the Punjab government have brought about this landmark decision. For years, industrial activities were stalled due to unsupportive policies, but now we finally have the opportunity to move forward.”
Rahul Ahuja (APEX), Upkar Singh (CICU), Gurmeet Kular, Rajnish Ahuja President (APEX), and Jaswinder Singh Birdi Gen. Secretary (APEX) during their press address said, “This demand has been pending since 2016. No previous government took it seriously. Sanjeev Arora ji’s efforts have resulted in a breakthrough that will reignite industrial activity, benefiting not only businesses but also the workforce and the state’s economy.”
The Phase 8 Industrial Association will host a felicitation ceremony to honor Sanjeev Arora’s contributions on Friday at Aagaaz Hotel. Over 200 industrialists are expected to attend the event to personally thank Arora and the AAP government for addressing their concerns.
This decision underscores AAP’s focus on creating an industrial-friendly Punjab and its vision for sustained economic progress. With policies that prioritize the needs of businesses, the Bhagwant Mann-led government continues to deliver on its promise of transformative governance