CHANDIGARH: The cash-strapped AAP-led Punjab government, whose outstanding debt touched Rs 3.98 lakh crore till October this year, hopes to generate Rs 3,000 crore through monetisation.

It has identified parcels of unused land to be developed and sold under the three-decade-old Optimum Utilisation of Vacant Government Lands (OUVGL) Scheme to fulfil its pre-poll promise of providing a Rs 1,100 per month honorarium to all women in the state.

With only 14 months left for the Assembly elections, the move is aimed at tiding over the financial crisis.

Most of these lands belong to the Punjab State Power Corporation Limited (PSPCL). Employees and officers of the corporation have now decided to launch a protest movement against the sale of power sector land and assets, saying it will severely compromise future expansion of critical infrastructure such as substations, transmission corridors and power projects.

Sources said a meeting of the empowered committee of the OUVGL, headed by Chief Secretary KAP Sinha, was held on Thursday, during which the development costs and net revenue expected from disposing of several land pockets in Patiala, Bathinda, Amritsar, Ludhiana and Jalandhar were discussed.

It is estimated that Rs 2,789 crore could be generated from the sale of these land parcels belonging to PSPCL, the Health Department, the Transport Department, MARKFED, the Punjab Mandi Board, the Punjab Agro Industries Corporation and the Punjab Khadi and Village Industries Board.

Of the Rs 3,000 crore the state hopes to generate from the sale of these assets, the maximum revenue of Rs 2,219.58 crore is expected to come from six PSPCL properties in Patiala, Bathinda, Ludhiana and Jalandhar that are being considered for disposal.