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Punjab: At investors’ summit, CM Channi says available for industry 24X7

Channi reiterated decisions taken in the morning Cabinet meeting in his short speech. He announced removal of institutional tax imposed by former SAD-BJP government in 2011.

Written by Raakhi Jagga | Ludhiana |
October 27, 2021 10:40:18 pm
punjab investors summit channiPunjab CM Charanjit Singh Channi on the first day of the Progressive Punjab Investors' Summit on Tuesday. (Twitter/Charanjit Singh Channi)

Punjab CM Charanjit Singh Channi on Wednesday went all out to woo industry captains during the state government’s Progressive Punjab Investors Summit, declaring that he was available 24X7 to address industry concerns.

He pointed out how in a month’s time in office he has held five meetings with industrial groups.

“Our complete focus is on industry now and in my one month tenure, I have had five meetings with various industrial groups. I am always available for all of you 24×7,” said Channi, adding: “We have got investments worth Rs 1 lakh crore in the past five years. No doubt we have welcomed various new groups, given them industrial incentives as well, but we are serious about taking care of existing industry of Punjab as well….We need to create enough job opportunities in Punjab…”

Channi reiterated decisions taken in the morning Cabinet meeting in his short speech. He announced removal of institutional tax imposed by former SAD-BJP government in 2011.

The CM said, “Outstanding default has been written off and this tax has been abolished as well.”

Fixed meter charges for MSMEs were slashed by 50 per cent, though industry had demanded to scrap fixed charges all together.

Punjab CM added, “I will be coming to lay the foundation stone of Halwara airport on November 15 and it will be completed in 8 months time period. Exhibition centre of Ludhiana will also be inaugurated on the same day. We are in the process of handing over land to railways in Makhu area of Ferozepur so that rail line connectivity from that area can benefit the whole state. A new exhibition centre will be coming up in Amritsar. We are also introducing one time settlement for dispute cases under Punjab state industrial and development corporation and Punjab Finance Corporation.”

He added, “Mobile squads of taxation department are to check tax evasion. However, industry complains of harassment by them. So Cabinet has decided to reduce these n squads from 14 to 4.”

It was also announced that every district will now have district bureau of industry investment.

VAT RELIEF

Channi government has alsi announced dropping 40,000 pending cases of VAT liability, out of total 48,000 cases related to Financial Year 2014-15, 2015-16 and 2016-17. These cases were registered against traders and industrialists across the state.

Addressing industrialists later, Channi said that remaining 8,000 cases will be settled amicably by asking the concerned traders/industrialists to deposit just 30 per cent of the total outstanding tax liability.

Even out of this 30 per cent, they will they will only have to deposit 20 per cent of the aforesaid tax liability during current fiscal and the balance 80 per cent by the next.

CM Channi also announced One Time Settlement (OTS) scheme for the defaulters to be introduced in Punjab State Industrial Development Corporation (PSIDC), Punjab Financial Corporation (PFC) and Punjab Agro Industries Corporation (PAIC).

The CM also said that an amnesty scheme will also be introduced for the plot holders of Punjab State Industries Export Corporation (PSIEC).

INDUSTRY SPEAKS

Meenu Malhotra, a UK-based NRI announced to invest Rs 2,500 crore in Punjab. He is from Ludhiana. He said that his one project will be near Ludhiana city centre area and another is Imperial Golf Course on Ferozepur road. However, Malhotra had made these announcements in January as well.

Suchita Oswal, Vice Chairman of Vardhaman group of industries, announced to invest Rs 600 crore in their two units located in Malerkotla and Ludhiana.

Sameer Goyal, from Infosys Mohali Center, said, “CM is always readily available and I had 5 industrial interactions with him in a month.”

DEMANDS FROM INDUSTRY

Upkar Singh, president of chamber of industrial and commercial undertakings (CICU), Punjab, said, “Punjab is far from the sea port, far from iron ore, but still its cities like Ludhiana, Malerkotla are industrial hubs of the country. Local people and refugees from Pakistan had those skills to make it a hub. India has a huge scope to grow and even Punjab too. Hence, I feel that industries like electric vehicles manufacturing, medicine related industries, textile units, electronics goods manufacturing units etc. should be given special incentives. Special teams should be made to develop clusters. Connectivity to the sea port and dry ports should be improved. Government should be more proactive in providing end-to-end solutions as in other Asian countries like Taiwan, Vietnam, Indonesia etc. so as to compete with the world. These industries offer plug and play units for industry.”

He also demanded to waive off enhancement charges imposed by Punjab State Power Corporation Limited.

Prominent among others who attended the summit were Deputy Chief Minister OP Soni, Cabinet Ministers Manpreet Singh Badal, Gurkirat Singh Kotli, Amrinder Singh Raja Warring and Vijay Inder Singla, Lok Sabha MP Dr Amar Singh and many others.

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