Taking the lid off the erstwhile SAD-BJP Government’s much-touted ‘Investment Summits’, Punjab Cabinet Minister Navjot Singh Sidhu on Sunday claimed that only five per cent of the total 391 memorandums of understanding (MoUs) “signed” by the previous government in the past 10 years have been fructified.
Sidhu, the state Tourism, Cultural Affairs and local Government Minister, who has recently taken off road SAD president Sukhbir Badal’s dream project of ‘amphibious bus’ by calling it a “loss making”, has exposed the combine for making “false” claims regarding generating investment in the state during their tenure.
Accusing the SD-BJP government, particularly Sukhbir, of “cheating” with the people of Punjab, Sidhu said that out of 391 MoUs signed by the previous government in its Investment Summits, only 46 companies have set up their projects in the state.
So much so, three such MoUs were also signed by the SAD-BJP government whose investment amount was “zero”, added Sidhu.
Sidhu said that the previous government boast of attracting investment of Rs 1,20,000 crores by signing agreements with the companies and industrial house, “but in reality, only Rs 6,500 crore investment have been made in the state…And there is no investment for small scale industrial units”.
“Between 2007 and 2014, a total of 18,770 factories have been shut down in Punjab. Many Akali leaders had talked of bringing the investment of several thousand crores of rupees, but actually this has not happened,” said Sidhu.
In contrast, Sidhu patted the back of his own government saying that in just over a year’s time, so far, 170 MoUs have been signed by the Congress Government.
“From these agreements, a total investment of Rs 47,116 crore is expected, and out of this Rs 8,400 crore has already been invested in the state,” said Sidhu.
As per the documents provided by Sidhu, companies which have announced to investment in state include Rs 100 crore by Wahid Group, Rs 1000 crore by Trident Group, “Rs 4500 crore by Janta land Promoters limited (JlPl) — a company owned by Mohali mayor Kulwant Singh, Rs 2400 crore by Gilco — Kharar’s Real Estate company owned by Akali leader, Rs 1250 crore by Akali MlA NK Sharma’s company, Rs 3500 crore by Punjab Energy Development Agency which was sponsored by Bikram Majithia”.
The previous government also claimed investment by the national and international companies, which includes Rs 5000 crore by GVK, Rs 9200 crore by DlF, Rs 3500 crore by Reliance Jio, Rs 5000 crore by CVC India Infra, Rs 6000 crore by Shipra Estate, Rs 2910 crore by Neoron, among others.