Punjab may boast of attracting mega projects worth several crores, but from the looks of it, the growth of many such ambitious ventures remains on paper only.
In the last eight years, more than 296 mega projects worth Rs 71,890.26 crore have been approved by both the Congress and SAD-BJP governments in Punjab. But owing to the state government and private developer apathy most of the projects failed to take off and actual investment in the state stands at Rs 10,370.63 crore as on June 2008.
During the Congress regime in the state (between February 2002 and February 2007), 277 projects with investment of Rs 60,065.12 crore?including 77 projects in the manufacturing sector, 42 industrial parks, 100 multiplex and 58 hotels?were sanctioned. During these five years, only 11 manufacturing and four hotel projects having an investment of Rs 2,591.34 crore became operational, while 124 projects with proposed capital outlay of Rs 7,517.75 crore, said to be under implementation, are moving at snail?s pace.
Post March 2007, 49 projects?including 26 projects in the manufacturing sector, nine industrial parks, eight multiplexes and six hotel projects?worth Rs 36,574.25 crore have been approved. But only one manufacturing project has become operational and around three projects are under implementation. While 17 industrial parks are said to be under implementation, not even one is operational till date.
Agreeing that there is a delay in execution, chief secretary of Punjab, Ramesh Inder Singh, said, ?The ongoing economic recession has further aggravated the problem. The Punjab government can work as a facilitator only and it is the private parties who have to push their projects. We have been involving all stakeholders including the PHD Chamber of Commerce and Industry, the Confederation of Indian Industry and other industrial associations so that the developmental projects can pick up pace. The UNIDO (United Nations Industrial Development Organisation) industrial policy is out and is expected to help the industrial sector of Punjab.?
