New policy to encourage existing industry: Badal

The Punjab government today said it will come out with a new policy to encourage local industry by giving incentives to boost growth.
"The state government will come up with a new policy under "Make in Punjab" to encourage the local industry thereby providing incentives for its growth," Deputy Chief Minister Sukhbir Singh Badal said here today.
Presiding over a series of meetings with the small and large scale industrialists of the state here today, Badal said the Punjab government is committed to attract setting up of new industries on the one hand and revive the existing units on the other.

"My sole aim is to provide congenial atmosphere, liberal policies and online facilities to entrepreneurs for overall progress of Punjab as well as generating job opportunities for youth," he emphasized.
Empowering industrialists' associations to develop and maintain existing focal points, the Deputy CM informed that under new policy, Special Purpose Vehicles (SPV) would be set up in each industrial area by January 1.
"The SPVs will collect taxes from the industrial units and spend it on the development of industrial areas. This unique mechanism will certainly help in eliminating various problems regarding provisioning of basic amenities and other facilities in focal points", he noted.

Acceding to the demands of businessmen, Badal said under existing labour rules, payments to the industrial labour through cheques would be deferred by December 31 and alternative arrangements would be made in consultations with the labour department.

In order to redress their genuine grievances, the Deputy CM asked the excise and industry departments to constitute an advisory committee of small scale manufacturers to get their valuable suggestions.
Exhorting manufacturers to submit their suggestions, he directed Chief Secretary Sarvesh Kaushal to convene a meeting of this advisory committee of at the earliest to redress their grievances.
Providing relief to the industrialists, Badal said excise department would scrutinise assessment cases of tax payers pertaining to the last three years instead of five years and if any tax payer is found at fault then scrutiny of five years taxes would be implemented.