Punjab forms Investment Promotion Centre to deal applications of investors at one place

Mumbai/Chandigarh, October 23, 2013: Punjab Deputy chief minister Sukhbir Singh Badal today told investors that Punjab had formed an Investment Promotion Centre to deal with all applications received from investors at one place and that a nodal officer would be appointed to take time bound decisions on the same.
Addressing likely investors at an investors meeting held here, the Deputy chief minister told the investors that the Punjab government had changed systems in order to make the investment climate ideal for entrepreneurs in Punjab.
Explaining to the investors why the Punjab government was wooing them, the Deputy CM said the government had approached them only after setting everything right in Punjab. “I do not believe in making claims. I have only come to you after I am sure that the State is on the threshold of becoming a power surplus State. We have more than 20,000 acres of ready land available for allocation to entrepreneurs. We have created a single window system to hand hold investors coming into the State. It is because of these steps that I feel completely confident approaching you now and welcoming you to invest in the State”, he added.
Telling investors that the government believed them, he said the State had decided that all investors could submit self certified applications while applying for various kinds of clearances. He said as far as concessions went, the Value Added Tax (VAT) and Central Sales Tax (CST) retentions allowed for new investors was phenomenal.
Assuring investors that Punjab would be power surplus by December this year, he said the government had not only assured 24 hour power to the IT industry but would also offer to pay for the cost of any disruption.
Sharing his experience about the industry in Punjab, Industrial Adviser Kamal Oswal said the State government was not only extending support to the industrial sector but was responsive to the concerns of the industry. He said Punjab was also the best place to do business because there was absolutely no labour unrest in the State.
Larsen and Toubro Director S N Roy said his company had constructed the second largest mall in Chandigarh by creating 2 lakh feet of commercial space. He said Larsen and Toubro were also coming up with a thermal plant in Rajpura besides various infrastructure projects. “It is very easy to approach both chief minister Parkash Singh Badal and Deputy CM Sukhbir Badal who are always keen to solve our problems”, he added.
CII Chairman and Tata Chemical managing director R Mukundan said industry was upbeat about the innovative steps being taken by the Punjab government to invite investment in the State. Others who spoke on the occasion included Industry minister Madan Mohan Mittal, chief parliamentary secretary N K Sharma and State chief secretary Rakesh Singh. www.cityairnews.com

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