TN forms high-power committee to expedite investment proposals

A high-powered committee, to be headed by Chief Minister K Palaniswami, has been formed to expedite necessary clearance to foreign investment proposals made during his recent three-nation tour.

During the visit of Palaniswami who had led a delegation from Tamil Nadu to the UK, USA and Dubai, memoranda of understanding with 41 companies had been signed and the state had attracted a total investment of Rs 8,835 crore with a potential employment creation for 35,520 people.

An 'Investment Facilitation Cell' to deal with issues of major investors and facilitate investments has been set up in the Chief Minister's Office with an IAS officer as an OSD (officer on special duty), an official press release said here.

Deputy Chief Minister O Panneerselvam and ministers for electricity, municipal administration and rural development, Chief Secretary and secretaries to the various government departments would be members of the committee, the release said.

Industries department principal secretary N Muruganandam would be the member-secretary of the committee.

The committee would meet during the first week of every month to monitor and progress of investment facilitation activities and pending clearances and others, the release said.

The committee would also resolve the cases which were pending beyond the time-limit fixed by the Tamil Nadu Business Facilitation Rules, it said.

Palaniswami had embarked on a three-nation tour on August 28.

Describing his visit to woo investments as successful, he had said upon his arrival on September 10 that his government would render all support to the investors.