Face2News/Chandigarh:
The Chandigarh Business Council (CBC), the apex body of the business community in the Union Territory, has warmly welcomed the landmark decision of the State Agricultural Marketing Board, UT Chandigarh, approved by the Hon’ble Administrator of UT Chandigarh, Gulab Chand Kataria, to simplify the Mandi licensing process under Section 10 of the Punjab Agricultural Produce Market Act, 1961.
As per the approved proposal, the long-standing requirement of furnishing Bank Guarantee and Cash Security by applicants seeking licences has been abolished. Pursuant to this approval, amendments have been carried out in Rule 17 and Rule 21 of the Punjab Agricultural Produce Market Rules, 1962, on the pattern of the Punjab Mandi Board.
Under the amended provisions:
Applicants will no longer be required to submit Bank Guarantees or Cash Security at the time of grant of licence.
The validity period of licences under Section 10 has been substantially enhanced from three years to ten years.
These reforms are aimed at reducing the financial burden on stakeholders, simplifying procedural requirements, and promoting greater participation in regulated agricultural markets within Chandigarh.
Welcoming the move, Ajay Gupta, President, Chandigarh Business Council, stated:
The Chandigarh Business Council wholeheartedly applauds the Hon’ble Administrator and the State Agricultural Marketing Board for introducing this progressive reform. The abolition of bank guarantees and cash security requirements will significantly ease financial pressures on small and medium stakeholders. Extending licence validity to ten years is a visionary step that will reduce compliance burdens and bring long-term stability to the agricultural trade ecosystem in Chandigarh.
The CBC noted that these measures will not only enhance transparency and efficiency in the agricultural marketing sector but will also encourage new entrants into the mandi system, fostering healthy competition and economic growth.
The Council reaffirmed its commitment to working closely with the Administration to support further stakeholder-friendly reforms that contribute to strengthening Chandigarh’s overall business environment.
