Beopar Mandal seeks interest subvention, capital subsidy

Tribune News Service

Amritsar, September 17

After the state government invited objections for the Draft Industrial Policy-2022, members of the Punjab Pradesh Beopar Mandal (PPBM) sought inclusion of special incentives on power tariff, interest subvention and capital subsidy in the proposed policy for industries in border districts.

Clu for units within 30 Km of ib at minimum investment of Rs 100cr

• As per the Draft Industrial Policy-2022, Change of land use (CLU) for industries within 30km of International Border will be available for units with minimum investment of Rs 100 crore which is a big blow to development of industry in the border districts of Pathankot, Gurdaspur, Amritsar, Tarn Taran, Ferozepur and Fazilka
• Interest subsidy on term loan at five percent per annum to micro and small enterprises subject to maximum of Rs 5 lakh per annum for five years must be available for medium enterprises also to promote investment in state

In a communique shot off to Chief Minister Bhagwant Mann and Sibin C, Director, Industries and Commerce, the PPBM said it was a welcome move that the draft industrial policy was ready to be implemented. Before that its members sought that power tariff for industry increased from Rs 5 per unit to Rs 5.5 per unit and its increase by three per cent per annum will imbalance state’s power tariff from neighbouring sates and will hamper its industrial growth. So it sought that power tariff rates must remain for at least next five years.

As per the Draft Industrial Policy-2022, Change of land use (CLU) for industries within 30km of international border will be available for units with minimum investment of Rs 100 crore which is a big blow to development of industry in the border districts of Pathankot, Gurdaspur, Amritsar, Tarn Taran, Ferozepur and Fazilka.

The body of traders requested the government to revoke the aforementioned clause and entire border districts must be covered for the CLU unconditionally to boost the economy.

Interest subsidy on term loan at five percent per annum to micro and small enterprises subject to maximum of Rs 5 lakh per annum for five years must be available for medium enterprises also to promote investment in state.

Border districts must be given special incentives in power tariff, interest subvention and capital subsidy to industries apart from thrust sector also, this will further help to attract investment in Punjab and boost GSDP, members of the PPBM requested.

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