'FastTrack portal' will usher industrial revolution in state: Cheema
Ludhiana, June 12 -- Finance minister Harpal Singh Cheema on Wednesday promised strong reforms to support industrial growth and said that the implementation of a single-window system for industrial approvals will usher in a new era of industrial revolution in Punjab.
Speaking during a press conference after addressing the business community in the city ahead of the Ludhiana West bypoll, Cheema said: "It as a historic decision that would lead to an 'industrial revolution' in Punjab. Under this system, any person wanting to set up an industry in the state will receive all required approvals within 45 days of applying."
Cheema said that the biggest challenge earlier was the bureaucratic red tape that discouraged many industrialists from investing in Punjab and "the new system eliminates such obstacles and ensures that setting up an industry will now be a smooth process. Land feasibility reports will be completed within seven days, and revenue officers will assess the suitability of the land, followed by an online visibility report within 15 days."
He announced that leasehold industrial properties can now be converted into freehold. "Industrialists will be able to pay a fee to the government to take full ownership of the land. He said this reform would simplify long-term planning and investment by industries," he said....
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