City industrialists seek release of seniority list

Industrialists who applied for capital subsidy under the Industrial and Business Development Policy (IBDP), 2022, have demanded release of its seniority list. They have also demanded that it should be uploaded on the portal of Invest Punjab.

Sundeep Khosla, who set up a new unit for manufacturing bicycle parts, said his interaction with officials of Invest Punjab revealed that the government was yet to release the capital subsidy as per the seniority list under the 2017 industrial policy. He demanded that the seniority list of 2022 should be uploaded on the portal.

Another industrialist, who is entitled for Rs 50 lakh subsidy, said the sanction letter for setting up their new shawl manufacturing unit was issued on October 21, 2024. He said what would be the benefit of the scheme when it takes years to relase the subsidy amount.

Deputy Commissioner Sakshi Sawhney said there was no pendency at the district level and weekly meetings were held to approve the cases. The power for disbursal of subsidy rests with the headquarters.

Manavpreet Singh, general manager, District Industries Centre, said all cases under Invest Punjab were promptly approved by the district-level committee. As many as 61 cases were approved under the IBDP-2022 till date, which included ICAF 23, Interest subsidy 5, stamp duty exemption 6, EDC exemption 12, capital subsidy 4, freight subsidy 1, property tax 1 and CGTMSE 1.

The new units may not have received the cash part of the subsidy but they are getting a portion of it in shape of exemptions in external development charges (EDC), stamp duty, electricity duty and property tax.