Punjab Introduces Industrial Policy in Punjab to Ease Business Operations and Boost Growth : Sanjeev Arora - indiathisweek.in
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Punjab Introduces Industrial Policy in Punjab to Ease Business Operations and Boost Growth : Sanjeev Arora

PSIEC plot holders get relief and easier processes under Punjab’s new industrial policy.

by Tamanna

Chandigarh: In a major relief for industrialists, the Punjab government has unveiled a new industrial policy in Punjab designed to simplify operations, reduce costs, and encourage investment. Cabinet Minister Sanjeev Arora announced that this initiative will bring significant benefits to industry owners, particularly PSIEC plot holders.

Under the new industrial policy in Punjab, a special committee comprising seven industry representatives and 1–2 government officials will be formed to oversee and approve major operational and management decisions. Notably, electricity bills for industries will now be processed and paid as per the approvals of this committee, ensuring transparency and accountability.

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PSIEC Plot Holders Gain Relief Under Punjab’s Industrial Policy

PSIEC plot holders will also enjoy significant relief under the policy. The process to convert leasehold plots to freehold has been simplified. Additionally, registration fees have been waived, with benefits accessible by paying just 5% of the reserved value to PSIEC. Businesses can also choose from 18 mandatory services as needed, without being obliged to avail all, providing flexibility in operations.

New Industrial Policy in Punjab Aims to Boost Growth, Efficiency, and Investment

Cabinet Minister Sanjeev Arora emphasized that the new industrial policy in Punjab is aimed at reducing operational burdens on businesses while promoting growth, efficiency, and investment in the state. The initiative is expected to boost investor confidence and create a more business-friendly environment across Punjab.

This industrial policy in Punjab marks a key step in the government’s efforts to strengthen the industrial sector, streamline processes, and provide maximum relief to entrepreneurs, ultimately contributing to the state’s economic development.

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