State to give subsidy for boosting industrial sector

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By Accommodation Times Bureau

The Punjab Government would give subsidy to the industrial units so as to enable the industrial sector in the state to act as a propeller of the economic growth of the State. This decision would result in generating more and more employment avenues for the youth of Punjab.

The Industries and Commerce Minister, Punjab, Sunder Sham Arora on Sunday said that the intended move would strengthen the industrial infrastructure and the Punjab Government has released an amount of Rs 2 crore for the purpose.

Arora further said that a sum of Rs 7 crore would be provided soon as a subsidy to the currently operating industrial units. He also disclosed that those industrial units which consider themselves eligible for the subsidy amount can apply and send documents.

The minister also added that apart from the above, the state government has also decided that the industrial units which have shut shop for any reason, Moved from their original place, have been sold, or there has been a change at the management level owing to a family dispute or any other reason, would also be eligible for the subsidy if their bank account is in operation as before.

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