Punjab to release subsidy for industry revival in border areas

The Punjab government today issued a directive with regard to expediting the release of pending subsidy worth up to Rs 7 crore for the development of industry in the border areas of Tarn Taran and Amritsar.
The order followed a request for immediate release of the subsidy by a delegation of the PHD Chamber of Commerce and Industry (PHDCCI), which called on him here to discuss steps to revive the state's ailing industry, an official spokesman said.
Stressing the need for collective efforts to bring industrial growth on track in the state for the generation of employment and economic revival, Punjab Chief Minister Captain Amarinder Singh assured the delegation of full infrastructural support by his government, along with uninterrupted power at affordable rates, for the industry.

Acknowledging the PHDCCI's research-based advisory role in framing entrepreneur-friendly government policies, Captain Amarinder urged the delegation to come forward with more innovative inputs for the revival of the industry, which had been devastated as a result of the unfriendly policies of the previous government.
The Chief Minister told the delegation that the new industrial policy being prepared by his government would have several provisions to attract entrepreneurs from across the country besides initiating a congenial investment atmosphere in the state, which was once considered the most favoured investment destination.
He further said he had personally received stupendous response, during his 'Invest Punjab' visit to Mumbai recently, from the country's top industry leaders such as Tatas, Ambanis, Goenkas, Mahindras, Bajajs, among others, for investing in the state.

Observing that Punjab had surplus power, the Chief Minister said his government was studying various options to sell surplus power from the state to neighbouring countries such as Pakistan and Nepal, and he had urged the prime minister to formulate a policy for the same.
He further informed the delegation that the Ambanis were ready to supply power to the state at Rs 5 per unit, which was much cheaper than the actual cost of generation in the state.
PHDCCI Chairman R S Sachdeva expressed the chamber's full confidence and trust in the present government, the spokesman said.