New policy to boost industrialisation: Min

Punjab Industry and Commerce Minister Sunder Sham Arora on Thursday said the implementation of new industrial policy from next month will give a boost to industries in the state.

Terming the new policy as “pro-industry”, he said it would give one-time settlement opportunity to sick industries to restart their ventures as the new policy will be launched after enormous improvements.

Arora said that Captain Amarinder Singh-led Punjab government had notified the Industrial Policy 2017 to fulfil its promises made with the people of the state.

Regarding the pending cases of VAT refund, Arora said the state government will refund the entire amount up to December 2018 and the fund of Rs 300 crore will be released after every two months.

Reiterating his government’s commitment with regard to industrial development in the state, Arora apprised that total 155 MoUs have been signed with investment intent of Rs 47,000 crore with an expected employment generation of approximately 77,000 during the investor outreach activities carried out in the past one year.