The Punjab government is giving final touches to new energy policy of the state to meet the increasing power demands of various sector for at least next 25 years.
Besides thermal power, the new energy policy would also focus on power generation from gas, hydel resources and with increasing focus on new energy sectors like solar, biomass and wind, deputy chief minister Sukhbir Singh Badal said here on Thursday.
Inviting industrialists to invest in the state in the 'Samridhi Punjab' conference held here, he said although the state is likely to be power surplus by the end of this year by the commissioning of three thermal plants, it will not get complacent.
These three thermal plants would take care of power demand of next 10 years but SAD-BJP government is planning new energy policy to meet the demand of at least next 25 years, he said.
The state is contemplating to generate 1,000 MW power from solar sector and contemplating a new model of partnership with multinational companies in this.
"It would be a win-win situation for all stakeholders and
within next 4 years, we will be able to rate of power substantially down," Badal said.
Speaking about ensuing Investment Promotion Policy, Badal said that launch of this policy was getting postponed because he was personally going into the minutest details.
Promising the most comprehensive interactive portal that would link all Departments, Badal said that new policy was going for self certification and self-attestations by the industrialists rather than imposing bureaucratic controls.
He said that like Income Tax returns they would scrutinise 10 per cent cases and move with the total faith on the applicant.
Promising world class infrastructure, zero government interference, zero inspector raaj, Badal said that with best road connectivity, power surplus status, negligible labour problem, Punjab is all set to become most favoured investment destination in the country.
He said that with transparent and paperless taxation procedures he had been able to increase VAT collections from Rs 5,000 crore to Rs 16,000 crore and was focusing on touching Rs 40,000 crore in next three years that too without raising the rate of tax.
Badal said that he was alive to the demand of industrialists and was mulling lump-sum tax on certain sectors, including steel industry to increase their competitiveness.