In order to create land bank for the Industry as announced in the Industrial Policy of the state recently, the Punjab government will seek services of a consultant. The hired consultant will assist the government in identifying strategic location for setting up Industry, attracting anchor units and also in getting finance from the banks for acquisition of land.
It is worth mentioning that recently, state’s Deputy Chief Minister, Sukhbir Singh Badal said that Industry Department will identify 5000 hectares of land for creating a land bank for the industrial sector.
“We are seeking services of a consultant and very soon a decision would be taken in this regard. We want to give professional touch, so that we can acquire the right land needed for the Industry. The hired consultant will assist in locating strategic locations, getting it finance from the banks and other process like assisting us in attracting big ticket investment in the state, “informed a senior official in Punjab Industry Department. With creation of land bank, the Industry Department is looking for investment in Sunrise Sectors like biosciences, consumer electronics, micro biotech, export promotion units, agro based units and textile sector that have maximum employment potential.
It is pertinent to mention here that high land prices is acting as deterrent to the Industry, so in the recently announced Industrial Policy of the state, the state government mentioned its commitment to create land bank for the Industry. Officials added that the industrialist were facing problems for setting up new industry in the state being Punjab a land locked state with exuberant land price. He mentioned that the state government would set up industrial hubs in the different areas of Punjab with the acquisition of 500 hectares of land.
He also added that besides that the state government would soon hold a ‘Investment Summit’ and ‘Road Shows in different parts of the country..
It is worth noting that in order to attract Industry, the state in its new Industrial policy would simplify procedures and document in order to ensure transparency in the system. They are also working on the modalities so that the Industrialist submit application online and approval to be accorded on line. Also, with the new system in place, self attested document can be preferred and third party certification of building plans, stability, safety etc. Besides that there would be payment gateway for online payments.
