First meeting of GM Security committee held at DIC Ludhiana

Ludhiana, May 29, 2019: The government of Punjab vide notification No 2500 Dated May 28, 2019 nominated Badish Jindal President FOPSIA and KK Seth Chairman FICO to the scrutiny committee for Invest Punjab applications in Ludhiana.

The government formed committees for all the districts/GM offices of Punjab and from every city nominated two industrialists as member of GM scrutiny committee.

Along with GM committee the government notified Deputy Commissioner scrutiny Committee of invest Punjab of all districts in which from Ludhiana Upkar Singh Ahuja President CICU and Inderjit Singh Navyug president UCPMA nominated as member of this committee. The deputy Commissioner committee will approve all investment cases upto crore. So the applicants’ upto one crore will not require to go head office for processing of their cases.

The GM committee will scrutinize all the applications received in district and after scrutiny the cases upto one crore will be referred to Deputy Commissioner Committee and cases above 1 crore will be referred to head office of Invest Punjab at Chandigarh.

Both These committees are formed under the Punjab Investment act 2017.

Under invest Punjab policy the government provide heavy subsidies upto 100% of the total project in many areas and upto 70% in all areas of Punjab on plant machinery and construction cost,. Beside this there is benefit of electricity duty, registration fee and CLU charges. This facility is for both new and up gradation of old projects.

Presently, 82 companies signed MOU under invest Punjab in Ludhiana. with an investment of 3045 crores and employment generation of 19620 new jobs. and there are fresh proposals from 217 new companies with an investment of 10704 crores with an employment target of 93358 fresh jobs in Ludhiana.

The first meeting of GM Security committee held today at DIC, attended by Mahesh Khanna GM DIC, Badish Jindal, K K Seth, and officers from GST, Lead Bank and PSPCL were present in the meeting.