Punjab government is all set to discuss the most waited industrial policy today. Approval of policy is important in wake of the Investors Summit. Investors summit proposed by the state government on February 23 and 24.
The Punjab Industrial and Business Development Policy-2022 aims for providing employment generation subsidy. This subsidy will benefit those units who have Punjab domicile.
Now as per the reports, Punjabis will get Rs 36,000 per annum per employee for five years. If the employee is woman, she will get Rs 48,000 per annum for five years. It will be also applicable for those who are from reserved categories.
Primary goal of the policy is on promoting manufacturing and services sector
The primary goal of the policy is on promoting manufacturing and services sector. It will also create a conducive eco-system for startups. However Punjab government is aiming to extract atleast investment worth Rs 5 lakh crore through the policy.
Industrialists say that many important new aspects have been added to the government’s policy
Industrialists say that many important new aspects have been added to the government’s policy, which if implemented can take Punjab’s industry on the path of growth. This will greatly benefit the industry. If the Punjab government implements the policy on time and provides the facilities without any hindrance, then only it will be beneficial, otherwise it will be just a supply as before.
The new industrial policy has focused on many important aspects. In this, indications have been given to keep the single window system smooth to reduce the problems of the industry. The most important part is the concept of single agency approval for building plans. Instead of increasing any kind of burden on the industry, it is a relief. Along with single window clearance, Fire NOC is being made three years old. Important incentives need to be given for the growth of exports. A memorandum will be given to the government after taking suggestions from the industrialists of Punjab.
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