Punjab Government will soon bring the provision of One Time Settlement (OTS) for the state sick industrial units. “It will be the part of the state’s new industrial policy which will be unveiled next month aimed at bolstering the Punjab’s industry,” said the state Industry and Commerce Minister Sundar Shyam Arora on Tuesday.
Arora, who was in Amritsar to take stock of grievances of industrialists and traders, said that backlog of VAT refund cases will be cleared soon and he had raised the issue with the Union Finance Minister.
“The government would issue Rs 300 crores after every two months and this backlog will be cleared up to December 2018. The government is committed to sort out all the problems of industrialists and in this regard, no stone will be left unturned,” he said.
Arora said that the meeting of industrialists will be organized every month by the administration and he would review the situation after three months at the departmental level.