PSIIC to be set up under new industrial policy

Tribune News Service

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Jalandhar, July 22

The Punjab State Industrial Infrastructure Corporation (PSIIC) will be set up under the new industrial policy, said RK Verma, Principal Secretary, Industries, here today.

The decision has been hailed by many industrialists as they said this would definitely help improve the infrastructure of the approved industrial zone.

Charanjit Singh Maingi, Secretary, Jalandhar Chamber of Industry and Commerce, said it was a good decision.

“Earlier for problems relating to infrastructure, we had to approach the PSIEC, and still getting the work done was not easy, but now its role will be finished and the PSIIC will take over. I appreciate this step,” he said.

Verma said he had received feedback and suggestions of 180 points from all over the state for new industrial policy, out of which 90 per cent points had been covered in the policy.

He said the main feedback was on giving incentives for the upgrade and expansion of the existing industries and maintenance of focal points and absence of general window at the district level.

Industrialists felt that the existing units should be given incentives for their expansion and they should be given freight subsidy.

Some organisations like the Jalandhar Industrial Focal Point Association and Khel Udyog Sangh handed over the memoranda to the Secretary where issues like lack of technical manpower and research and development, subsuming electricity duty in GST were included.