Amritsar, July 23: Putting up its case in a most emphatic and convincing manner, Punjab has sought a special Industrial Development package of incentives for rapid industrial development in it’s Border Districts, equivalent to those offered in Jammu & Kashmir in order to control flight capital from Punjab.

In a presentation here today before the 16th Financial Commission led by Chairman Arvind Panagariya, the Additional Chief Secretary (Industries & Commerce) Tejveer Singh outlined the industry friendly eco system of Punjab needing the requisite support in order to ensure development at accelerated pace across the industrial spectrum.

“Among other features of the presentation, officials sought a one-time compensation to mitigate economic losses incurred due to the trade embargo at Attari-Wagah Border, as well as annual compensation until its reopening. They also requested the establishment of a dedicated Special Economic Export Zone to boost exports of agri-products and Basmati rice.

To support the industrial sector, they sought a freight subsidy to offset high logistics costs, particularly in Border Districts. Additionally, they requested a Production-Linked Incentive (PLI) scheme to promote diversification, competitiveness, and employment in the agricultural sector. They also sought subsidized interest rates on term loans and working capital to stimulate industrial growth, competitiveness, modernization, and expansion, along with special tax benefits similar to those provided to hill states to support the border industry.”

The industrialists from multiple sectors on the occasion conveyed to the Commission the need for giving incentives for boosting the MSMEs in the State apart from ensuring a robust infrastructure at the ports to avoid the delay in shipping consignments to Punjab, good medical infrastructure in the form of hospitals in Majha and Doaba, ESI hospitals in every city, One Nation One Tariff policy, Taking industry in loop before signing Free Trade Agreements (FTAs), package to farmers to incentivize them for stop burning paddy stubble, Grants to the Municipal Corporations in Ludhiana, Jalandhar and Amritsar to boost urban infrastructure, National level fund for MSMEs, Grant of industry status to the hospitality sector, Cold chambers at the airports for preserving perishable export fruit products, boosting crop diversification, water resources and tourism.

The Director of M/s. Savi International Jalandhar Mukil Verma highlighted the need for giving much needed boost to the sports industry as our neighbouring country is far ahead in sports exports.

On the occasion, the Finance Minister Harpal Singh Cheema, NRI Affairs Minister Kuldeep Singh Dhaliwal, Power Minister Harbhajan Singh ETO and Transport Minister Laljit Singh Bhullar honoured Mr. Arvind Panagariya.

Among others present on the occasion included the Deputy Commissioner Amritsar Ghanshyam Thori, CEO Invest Punjab and Director Industries and Commerce DPS Kharbanda, Chairman CII Punjab Abhishek Gupta, Regional Chairman of PHDCCI Punjab Chapter R.S. Sachdeva, Chairman M/s. PHDCCI Punjab Chapter Karan Gilhotra, President of Federation of India Export Organization & Director Victor Tools & Fargings Jalandhar Ashwani Kumar Victor, General Secretary of sports goods manufacturer and Exporters Association Jalandhar, Director of M/s. Savi International Jalandhar Mukil Verma, President of Printing and Processing Association Amritsar Krishan Sharma, President Punjab Rice Millers & Exporters Association Amritsar Ashok Kumar Sethi, Arvinder Pal Singh (Lal Quila), Finance Secretary CICU Ludhiana Ajay Bharti, President of Hotel & Restaurant Association Amritsar Arvind Pal Singh Chattha, President of Punjab Pradesh Beopar Mandal (Regd) Amritsar Piara Lal Seth, President of Bal Kalan Welfare Association Amritsar Sandeep Khosla, President of Focal Point Industrial Welfare Association Amritsar Kamal Dalmia, President of Sangrur Industrial Chamber of Commerce Ghanshyam Kansal, MD of M/s. Sukhjit Starch Phagwara, MD of M/s. Ganga Acrowool Ludhiana Amit Thapar and Chairman of M/s. Vardhman Group Sachit Jain.