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One-time settlement scheme for sick industrial units soon, says Punjab industry and commerce minister

Says backlog of VAT refund cases will be cleared soon as he has discussed the matter with Union finance minister; govt will release Rs 300 cr every two months

punjab Updated: Jun 27, 2018 12:38 IST
One-time settlement,industrial units,Punjab industry and commerce minister
Punjab industry and commerce minister Sunder Sham Arora (centre) with Punjab school education minister OP Soni (right) and member of Parliament Gurjeet Singh Aujla during a press conference in Amritsar on Tuesday. (HT Photo)

Punjab industry and commerce minister Sundar Shyam Arora said at a press conference here on Tuesday that the new industrial policy, including a one-time settlement scheme for sick industrial units, will be unveiled next month.

Arora said the backlog of value-added tax (VAT) refund cases will be cleared soon as the matter has been discussed with the Union finance minister. He said the government will release Rs 300 crore every two months and the backlog will be cleared by December.

“To sort out all problems of industrialists, a meeting will be held every month by the administration. I will review the situation after three months at the departmental level,” he said.

Arora also said working of the industry department will go online which will save time and money of industrialists.

The minister said the industry will get electricity at Rs 5 per unit and Rs 1,440 crore have already been released to the PSPCL for this purpose. He said that the scope of the subsidy scheme will be expanded to benefit more units.

Arora said he will talk to the Union government about relief to border industrial units and promised that no unit will be allowed to shift from the state. He said that MoUs worth Rs 590 crore have been signed for new industrial units in Amritsar.

Environment and school education minister Om Parkash Soni said employment generation is the need of the hour to prevent youngsters from going to other countries in search of livelihood. The minister said, on the demand of industrialists, he has also asked the officials concerned to change the weekly power-cut day from Monday to Sunday.

He said the Punjab government has approved Rs 40 crore for the Patti-Makhu railway line as state share.

First Published: Jun 27, 2018 12:34 IST