Chandigarh, July 17 (IANS) A round table with industry associations from across Punjab was held on Thursday here, with state Industry Minister Sanjeev Arora and Finance Minister Harpal Cheema with the main demand to revamp all focal points and industrial zones.

At the outset, the industry representatives expressed gratitude to the Punjab government for announcing the long-pending one-time settlement policy, allowing resolution of litigated industrial plot dues in focal points by paying eight per cent interest penalty.

Various critical issues affecting industry were raised, including the urgent need to revamp all focal points and industrial zones, capping high mortgage and hypothecation fees for industrial loans, reduction of GST on bicycles from 12 to five per cent, rationalisation of wheeling charges for solar power transmission, provision of dry port container facilities for rice exporters in Amritsar and expediting the development of convention centres in Amritsar, Mohali, and Ludhiana.

Minister Arora assured industry leaders that these matters will be taken up on priority and responded to within a time-bound period of 45 days.

His Cabinet colleague Cheema assured that the issue of lowering GST on bicycles would be raised in the next GST Council meeting.

He also committed to reviewing the discontinuation of the 2.5 per cent fiscal incentive withdrawn by the previous state government in 2018.

Aam Aadmi Party Rajya Sabha MP, Vikramjit Singh Sahney, urged the need to expedite infrastructure development in the Rajpura Industrial Zone and invited industrialists to set up their units there.

He also highlighted that Punjab offers one of the lowest power tariffs for industry in the country.

Meanwhile, Industry Minister Arora said the state government would be bringing a new industrial policy, the best in India, that will pave the way for providing a progressive climate for industrial growth and employment generation in Punjab.

He noted that the policy would be designed after extensive consultation with various industries.

As a first step, the state government is ready to notify the sector-specific committees to allow for a structured and collaborative engagement between industry and the government.

These committees will function for two years from the date of notification, extendable upon the discretion of the government, the Minister added.

–IANS

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