One-time settlement policy soon for sick industry

The Punjab government will soon roll out a one-time settlement policy for revival of sick units, state industry minister Sunder Sham Arora said.

An official release quoting the minister said that the government was committed to reviving the industry in Punjab and one-settlement policy was just a first step in this direction.

Addressing a gathering of industrialists in Ludhiana, the minister said thousands of units were shut down in the state due to wrong policies of the previous SAD-BJP government in its 10-year's regime.

Calling them the backbone of Punjab's development, Arora said the industrialists will have complete freedom to raise their issues and problems before the government and they will not have to shift their units out of the state.

To attract the more investment, the Punjab government has also introduced a new industrial policy which is set to bring investments worth Rs 60,000 crore in the state, he said.

Arora said Ludhiana airport will get more air connectivity in coming days as more flights would start operating from here which will help in growth of business.

The state government signed memorandum of understandings (MoUs) with 21 industrial houses in Ludhiana, worth Rs 1,336.87 crore.

Several industries representing different verticals including Happy Forgings, Ludhiana Beverages, Million Exports, Eastman International Bonn Group of Industries committed fresh investments in the state.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)