Punjab minister reveals, at least 25 acres fixed for setting up of private industrial parks
Author(s): City Air NewsChandigarh, August 12, 2019: "The Punjab Government would give exemption in CLU/EDC for boosting the development of the private industrial parks in the State." Disclosing this here today, the Industries and Commerce...
Chandigarh, August 12, 2019: "The Punjab Government would give exemption in CLU/EDC for boosting the development of the private industrial parks in the State."
Disclosing this here today, the Industries and Commerce Minister Sunder Sham Arora said that an area of at least 25 acres has been fixed for the setting up of the private industrial parks with permission to be given for construction of residential and commercial establishments in 50 percent area. No CLU/EDC would be levied on any part of the private industrial park.
Arora further divulged that Industrial and Business Development Policy 2017 was notified in October, 2017. He further added that the policy was modified in July, 2018 thus strengthening the industrial infrastructure of the State with a view to give fillip to the private industrial parks.
The Industries and Commerce Minister also elaborated that the Housing and Urban Development Department has issued the notification for giving exemption from paying CLU/EDC in respect of such private industrial parks. Divulging about the various industry centric initiatives undertaken by the State Government, he said that whereas on one hand, the single window system is being practiced for establishing new industrial start ups, On the other hand, Invest Punjab Business First portal has also been launched. Those investors interested in setting up their private industrial park, are given online approvals through the portal.
The minister further divulged that the industrial units to be set up under the private parks would be exempted from stamp duty, electricity duty and the GST in accordance with the 'Industrial and Business Development Policy 2017'. He exhorted the investors to avail maximum benefit from the industry friendly policies being pursued by the Punjab Government.