MoU INKED FOR SETTING UP 41 STEEL INDUSTRIAL UNITS IN MANDI GOBINDGARH AT A COST OF Rs. 602 CRORE

Fatehgarh Sahib, July 19, 2018: “The Punjab Government would implement the newly modified industrial policy after getting the same approved in the cabinet meeting on 25thJuly. The policy aims to focus on big time industrial development, giving fillip to new industries and reviving the old ones. The new policy would entail exemption to the industrial concerns from the state GST, property tax, electricity duty and stamp duty.” This was disclosed by the Industry Minister, Punjab, Mr. Sunder Sham Arora in a meeting at Mandi Gobindgarh for hearing out the problems being encountered by the different industrial organizations.

On the occasion, MoUs worth Rs. 602 crore and 50 lakh were inked to establish 41 new steel industrial units in Mandi Gobindgarh. The minister said that these industries provide jobs to more than 4500 unemployed youth. He also disclosed that a petro chemical industry is also being set up at Bathinda at a cost of Rs. 23000 crore.

The minister further added that an atmosphere congenial to the development of industrial sector would be created in Punjab to facilitate the setting up of industrial concerns in the state in a big way which would go a long way in fulfilling the promise of ‘Ghar Ghar Rozgar’ made by the Chief Minister Captain Amarinder Singh. The minister assured the industrialists that power at a cost of Rs. 5 per unit would be ensured for the medium and big industries and also announced that a new focal point in 133 acre area would come up in wazirabad near Mandi Gobindgarh. He also added that a focal point would also be established at Bassi Pathan in 8 acre area.

Mr. Arora divulged that during the previous year 1,56,000 unemployed youth have been provided jobs in the government & non-government sectors. He also said that sanction have been accorded with regard to establishing industries with investment to the tune of Rs. 9200 croretill now and this would provide employment to 50000 jobless youth. He also elaborated that 5 big shredding plants are being set up all over the country out of which 1 would be at Mandi Gobindgarh.

Mr. Arora further announced that clusters would be established at Mandi Gobindgarh, Fatehgarh Sahib and Bassi Pathan to boost micro industries and would cost Rs. 15 crore each out of which the State Government would spend Rs. 13,50,00000 and the industrial units Rs. 1,50,00000. The minister also said that the Punjab Government has given VAT refund worth Rs. 340 crore and GST refund worth Rs. 48 crore to the industrialists. Furthermore, the State Government has provided subsidy of Rs. 1440 crore to the Power Corporation for providing power at the rate of Rs. 5 per unit to the industrial sector.

The Minister further added that the work of constructing the road infrastructure in focal point at Mandi Gobindgarh has been tendered out and would cost Rs. 1,23,00000 and also instructions have been given to the power corporation officers for uninterrupted power supply to the industrial units of Mandi Gobindgarh. He also said that an under path at a cost of Rs. 5 crore linking Mandi Gobindgarh focal point to GT Road would also be constructed.

Among others who also spoke on the occasion included MLA Amloh Kaka Randeep Singh, MLA Bassi Pathana Mr. Gurpreet Singh GP, Secretary Industries and Commerce, Punjab, Mr. Rakesh Verma and Director Mr. DPS Kharbanda.