Moving towards making congenial atmosphere for industry in the State, the Punjab Government would soon provide “hassle-free” clearances and approvals for setting up of new industries under one roof through ‘single window’ system — the long pending assurance of the SAD-BJP Government.
For the purpose, the State Government has approved setting up of the Bureau of Investment Promotion (PBIP) — an apex body for all industrial issues. The final nod would be given when the Bill in this regard would be tabled before the Cabinet in its next meeting.
The approval was given by Deputy Chief Minister Sukhbir Badal, who is also the Investment Promotion Minister, in a high level meeting attended by Industries and Commerce Minister Madan Mohan Mittal and local Bodies Minister Anil Joshi besides administrative secretaries of all departments.
“The Bureau is being formed with a motto to provide one-stop clearances within stipulated time to all proposals of new investments in the state along package of fiscal incentives for industrial promotion-2013,” said Sukhbir.
Sukhbir has asked the authorities concerned to bring the draft bill in this regard in the coming cabinet meet “so that single window system for the facilitation of industries could be implemented as soon as possible”.
Adding, he asserted that this ‘first of its kind’ Investment Promotion Bureau would be made functional before ensuing Progressive Punjab Investor’s Summit scheduled on December 9 and 10. The Bureau would be supervised by a senior officer, who would look into all affairs related to industries in the capacity of Chief Executive Officer, who would provide all approvals or clearances and relevant information to the industries on a single application submitted by industrialists.
Sukhbir said that CEO would receive, process and approve all investment proposals including new investments and modernization, upgradation and expansion of existing industrial units. He would be competent authority to issue Certificate of Eligibility for incentives, he added.
Chief Minister would be the head of Bureau in capacity of chairman while deputy chief minister would be the co-chairman “to keep a check on the functioning of PBIP”.
In governance body, various ministers including Finance, Agriculture, Health, Tourism, labour, Food Processing, IT, Housing, local Bodies, Science Technology besides Chief Secretary and concerned Administrative Secretaries would be included as members, and the Bureau CEO would be the Member Secretary.
In addition, there would be three technical experts and five representatives of Trade, Industry and Commerce, he added. Besides the CEO, the Bureau would have an Executive Committee “to guide, monitor and review the functioning of the Bureau under Chief Secretary as chairman”.
Sukhbir said: “The executive committee would regularly monitor, supervise and review the functioning of the Bureau and it would be fully responsible for organising campaigns, events, conferences and meetings for promoting Punjab as an investment destination both in India and abroad.”
Deputy Chief Minister added more than 30 MoUs with Industrial honchos would be inked during Progressive Punjab Investment Summit. “These MoUs would fetch an investment of Rs 25,000 crore, which would further accelerate the pace of industrial development in the state,” he added.