Himachal gets tough against erring investors | chandigarh | Hindustan Times
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Himachal gets tough against erring investors

Getting tough with investors who have not commenced production within a timeframe, Himachal Pradesh Industries Minister Mukesh Agnihotri Tuesday said the government would act against them.

chandigarh Updated: Feb 18, 2014 16:09 IST
IANS

Getting tough with investors who have not commenced production within a timeframe, Himachal Pradesh Industries Minister Mukesh Agnihotri Tuesday said the government would act against them.

"The government is going to issue a final cancellation notice to all those industrial units which have not completed their units within timeframe," the minister informed the assembly.


"The land allotted to the erring industrial units would be taken back and re-allotted to the new investors" he said.

"The government in 2006 cleared an investment proposal of Rs.91 crore of Candics Filaments for its manufacturing unit in Naglahar (in Kangra district). The company was allotted 35 plots but till date it has not set up the unit. We are going to give the final notice to the company to take back the land," he added.

Chief Minister Virbhadra Singh in his budget speech Feb 7 announced a slew of incentives, including reduction in taxes, to woo entrepreneurs.

"We are committed to provide industry-friendly environment for attracting new investments. We have introduced a common application form for clearing all medium and large-scale projects within 90 days," the chief minister said.

He said the representatives of the industries had requested for the reduction of electricity duty and additional concessions on duty for new industries.

"I have carefully considered their requests. The electricity duty for the specified extra high tension (EHT) category consumers will be reduced from existing 17 to 15 percent," he said.