Punjab Government on Friday amended its policy for allotment of sites to hospitals and medical universities by allowing the para-medical and pharmacy institutions to avail the opportunity.
The State Government has modified its Medicity Policy-2014 regarding the allotment of land or plots for hospitals, multi-specialty hospitals, medical university or medical college-cum-hospital and medical research centre in Medicity being setup in New Chandigarh in SAS Nagar district.
The Spokesperson said that eligibility criteria for allotment of sites for hospitals and medical university have been modified besides hospitals and institutions for para-medical courses and pharmacy classes were also allowed along with primary use of land.
He informed that as per modified policy, the State and Central Government, including its autonomous bodies related to this field, would be eligible for allotment of sites to setup multi-specialty hospital.
In addition, the firms, society, trusts, subsidiary or limited company registered in India, foreign institutions or hospitals, joint venture by the Indian applicant with foreign institutions, managing hospital having at least 300 beds or multi-specialty hospital of minimum 100 beds, will also be eligible for allotment of site if its total revenue from hospital business was more than Rs100 crores for the last two financial years.
Spokesperson said that foreign institutions or hospitals could also apply for site provided that it would setup a 100 percent subsidiary in India and entire equity of foreign promoter should be subject to a minimum lock-in period of 10 years.
He said in the case of joint venture with foreign partner, the application should be submitted by the special purpose vehicle (SPV) business entity by creating an Indian limited liability company for the purpose of hospital business.
Divulging eligibility criteria for allotment of sites for medical university or medical college-cum-hospital, he said that the site would be allotted to any State Government, Union Territory, university, autonomous body promoted by the Centre or State Government, registered society, charitable trust, companies, foreign institutions, joint ventures and subsidiary companies.