Punjab has signed 155 MoUs with an investment intent of Rs. 47,000 crore and an expected employment generation of approximately 77,000
The Hush Post: The operational guidelines under the New Industrial Policy for Punjab would be notified by March 31, 2018, Chief Minister Captain Amarinder Singh informed the Vidhan Sabha on Tuesday, while replying to the debate on the motion of thanks to the Governor’s address.
These guidelines, among other things, will ensure effective Ease of Doing Business at ‘One Stop Shop i.e. Punjab Bureau of Investment Promotion, said the Chief Minister, adding that his government would also endeavour to provide a similar facility to all investors, local and otherwise, at district level by establishing a branch of the Bureau at each of the districts.
Citing the unprecedented measure of providing power tariff at Rs 5/unit to existing as well as new industry, the Chief Minister further pointed out that his government had, for the first time in the state, allowed a Power Subsidy of Rs. 625 crore to the Industry during the current year. The subsidy would increase to about Rs.1440 crore in the next financial year, he said, pointing out that his government had fulfilled its promise to revive industrial growth and employment in Punjab despite the financial constraints.
The Chief Minister also pointed to the effective implementation of the notification abolishing truck unions and removal of inter-state check barriers as major steps to promote industry. The government, he further announced, will remove the obstacles being faced by the industry in dealing with land related transactions with the Government Agencies.
Approval for development of various industrial parks was also in line with the government’s thrust on industrial revival, said the Chief Minister, adding that he had personally interacted with prospective investors from Japan, Israel, Sweden, Europe and Korea.
During the last one year, Invest Punjab has signed 155 MoUs with an investment intent of Rs. 47,000 crore and an expected employment generation of approximately 77,000, the Chief Minister informed the House.