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HindustanTimes Sat,01 Nov 2014

Cong questions MoUs for Rs. 65,000 investment

HT Correspondent, Hindustan Times  Chandigarh, December 11, 2013
First Published: 20:04 IST(11/12/2013) | Last Updated: 20:05 IST(11/12/2013)

The Punjab unit of the Congress on Wednesday expressed its doubts over the state government's claim of roping in huge corporate investments up to Rs. 65,000 crore through the memoranda of understanding (MoU) signed at the Punjab's investment promotion summit that concluded on Tuesday.

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State Congress spokesman Sukhpal Khaira, in a statement here, pointed out the assertions of chief minister Parkash Singh Badal where the latter was quoted as suggesting converting MoUs into 'MoUs of consent' or 'MoUs of promise' in his address at the summit.

"The chief minister's apprehensions speak volumes about these MoUs actually converting into reality," Khaira stated.

"The Badal duo has been successful in self-glorification at the summit and have also managed to create a pomp and show, projecting Rs. 65,000 crore investment, by inflating and fudging figures. No doubt, there may be some serious investors but there are also many businessmen who wanted to keep the government in good humour," Khaira said.

"Many existing industries have also announced their expansion plans to please their political bosses," he added.

Khaira alleged that deputy chief minister Sukhbir Badal had arranged "such a flashy summit to promote his own multifarious business ventures".

Expressing the need to revive the state's sick industry, Khaira cited official figures that 34,922 small and medium units had either shut down or migrated from 2005-06 till 2011-12. More than 70 large-scale units also closed down since 2005-06 to 2011-12, he added.

Meanwhile, leader of opposition in the Vidhan Sabha, Sunil Jakhar, also expressed his doubts whether the state government would be able to fetch 10-12% of the projected Rs. 65,000 crore investment in the state.

Congratulating Sukhbir for the summit, Jakhar said he hoped the deputy chief minister would not eat his words on the Rs. 65,000 crore investment to come up in the state as a result of the summit.

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