Punjab govt's investor summit was 'abysmal failure': SAD leader Majithia

The Opposition Shiromani Akali Dal (SAD) on Friday dubbed the Punjab government's two-day investors summit an "abysmal failure" and alleged that in "absence any worthwhile investment" the summit was transformed into a social event.

SAD leader Bikram Singh Majithia alleged that several Indian "corporate czars" boycotted the "social event" due to complete lack of trust in the Congress government's ability to fulfil its promises as well as due to "breakdown" in law and order in the state.

"The Congress government's much hyped Investment Summit proved to be an abysmal failure. In the absence of any worthwhile investment the so called Summit was transformed into a social event," Majithia said in a statement here.

The Punjab government organised a two-day Progressive Punjab Investors Summit which concluded on Friday. The event saw participation from the micro, small and medium enterprises, apart from leading industrialists, new-age entrepreneurs, foreign missions and other dignitaries.

Alleging that the Congress government's track record of "reneging" on its promises was responsible for the "lacklustre" show with "corporate czars from outside the state virtually boycotting the event", he said, "It seems that prominent corporate entities refused to be part of this circus knowing the government had no intention of implementing the incentives it was promising."