Punjab’s New Industrial Policy to be out in next 10 days: Minister

By Accommodation Times Bureau


Cabinet Minister for Industries and Commerce Punjab Sunder Sham Arora on Friday said that very soon, Punjab would have the best industrial policy amongst all states of the country. He said that the Punjab government is committed for the welfare of industrialists and that is why it is being prepared in consultation with all stakeholders.

While addressing the industrialists, the minister said that the new industrial policy will emphasise mainly on small and medium industry and would be ready in next 8-10 days time. He exhorted the entrepreneurs to come forward and invest in the textile sector and promised that all facilitation and incentives will be given to them by the state government as per the new Industrial Policy. He mentioned that the Department would conduct a number of such conclaves of all important sectors of the industry, identified in the Policy.

The Minister stated that “Different industrialists have invested more than Rs 9300 crore in the state. He said that no industrialists are shifting their base to other states now and this could be known from the fact that 55 industrial units that had closed down in Mandi Gobindgarh a few years back are now operational.”

Besides, the state government has also given employment to 1.61 lakh unemployed youth under its Ghar Ghar Rozgar scheme.

The minister urged the industrialists to follow all the set norms and assured that they would not be harassed unnecessarily by officials from any government department if they have fulfilled them. He stated that the VAT refund would be issued to all parties by December 2018.

On the occasion, Mr Arora announced that a new focal point would be coming up in Ludhiana soon as the department is already looking for land, besides a private Textile Park is also coming up in Ludhiana. He also announced that once cleared by the cabinet, the medium units with high load would also get electricity at Rs 5 per unit.

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