Amritsar: Punjab government on Friday announced waiving loans of Rs 1,300 crore given by Punjab Financial Corporation to industrial units, which went sick during the militancy period.
"Loan amounting to Rs 1,300 crore faced by the industry which went sick during militancy will be waived," state Industry and Commerce Minister Anil Joshi told reporters in Amritsar.
Under the One-Time Settlement (OTS) scheme, industry would pay only interest amount in easy installments, he said. The scheme is valid till March 31, 2013. The loan waiver will benefit 409 units located in border areas, he further said.
These units will pay only Rs 59 crore out of debt burden of Rs 625 crore and rest of the amount would be written off, the minister said adding that interest rate of only 6 percent would be charged from them.
He said in other parts of Punjab, interest rate of 12 percent would be charged from industry. The Minister further said that debt burden of industry located in Sri Goindwal Sahib amounting to Rs 311.82 crore would also be waived.


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