Decks have been cleared for an enactment of Punjab Special Economic Zone (SEZ) Act with in principle approval from the Punjab chief minister Parkash Singh Badal by formulating a comprehensive SEZ policy to promote mega and super-mega industrial projects in consonance with SEZ rules under the Act of the central government.
A decision to this effect was takenon Wednesday at a high-level meeting chaired by Badal. He directed the state chief secretary to thoroughly look in to the comments given by the departments of revenue & rehabilitation, local government, housing & urban development and power besides the Punjab Pollution Control Board before the finalisation of state SEZ Act in the state Cabinet.
Badal underscored the need to promote industrialization in the state in a big way as the states? agrarian economy had already reached at a point of saturation. The setting up of SEZs in the State would give a further fillip to the industry. besides generating tremendous employment opportunities for our unemployed youth.
Badal said, ?SEZs should be encouraged in the state so that Punjab could compete globally in terms of industry as well as manufacturing activities and this could only be feasible if we grant liberal incentives and concessions to the prospective SEZ developers?.