The Punjab government will establish a MSME marketing cell, an initial fund of 100 cr

Mohali, December 6 () Punjab Prime Minister Amarinder Singh said Friday that the government will establish a marketing cell dedicated to MSMEs and establish an initial fund of Rs 100 million.

The MIPYME marketing cell will work to form business links for the micro, small and medium enterprises (MSMEs) of Punjab, a government statement said here.

The statement listed several decisions made by the prime minister after two days of deliberations during the Punjab Progressive Investors Summit (PPIS) 2019, which concluded on Friday.

The state fund will be established by the state government in partnership with the IKG Punjab Technical University for the promotion of incubators, providing initial or expanded funds to new companies, he said.

Of this, the 25 percent fund will be used to promote castes and scheduled businesswomen, he said, adding that venture capitalists or angel networks such as the Indian Angel Network and Bharat Fund can contribute to this corpus fund.

In response to industry concerns about the interference of regulatory bodies for the environment and the elimination of pollution, Amarinder decided to give automatic consent to the green category industry in intimidation.

With this, the state government will eliminate the inspection by any regulatory body and consent will be given to the industry on the day of the bullying, according to the statement.

In addition, the prime minister also decided to introduce certain amendments to the GST reimbursement policy to encourage the non-rice-based agricultural processing sector to move farmers away from rice, thus saving water and avoiding air pollution from stubble burning. .

Based on his talks with a delegation from the UAE, which was led by the country's ambassador to India, the prime minister ordered Invest Punjab to immediately establish a desk dedicated to the UAE in his office, according to the statement.

He also ordered that a monthly round table be held at the level of chief secretary with the partner countries that participated in the investor summit.

Taking note of the key conclusions of each commitment, interaction and session during the summit, the main minister ordered the creation of a working group, chaired by the chief secretary, within seven days to ensure rapid delivery at all points.

The working group will present a report on the feasibility of implementing suggested policy measures within a month, he said.

In response to some other concerns and demands raised by the industry to increase the ease of doing business, the prime minister decided to authorize the sale of independent apartments in apartment buildings and a minimum floor area ratio of 3 throughout the state. He also agreed to present a land lease law, as the industry urged, at the earliest, according to the statement. CHS RVK RVK RVK