New Punjab industrial policy by end of July
The new industrial policy for Punjab will be declared by the end of July 2017, Chief Minister Capt Amarinder Singh on Monday informed the Vidhan Sabha, while announcing a freeze on electricity tariff for new and existing industries at Rs 5 per unit.
The Government has also decided to make the Bureau of Investment Promotion more effective with the establishment of its offices at district level.
Making it clear that the new industrial policy would expand and strengthen fiscal incentives to the existing and new industries, the Chief Minister also announced abolition of truck unions to ensure free and fair movement of goods, including industrial products, besides destroying the transport mafia in the state.
The necessary notifications for all these decisions would be issued shortly, Captain Amarinder said.
The Government, he told the House, had decided to work out a comprehensive program to improve distribution and transmission systems of power in the State, and also to get the power purchase accounts of last 5 years audited through a third party to discern misappropriation of funds, if any.
The Chief Minister also announced several other steps to revive the state’s industry, which had been completely devastated under the previous regime. These include creation of land banks in all major towns to enable young entrepreneurs to set up industries or shift existing industries to new areas, fiscal incentives for border and kandi areas, simplification of process of obtaining CLU and the establishment of Industrial Policy Implementation Council under the Chief Minister to oversee time-bound development of industry in the State.
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