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In what could be a jolt for industrialists who, were pinning their hopes at the proposed new industrial policy and were expecting showering of some sops for the industrial sector, the much-publicised policy would now be unfolded by the Punjab government after completion of the parliamentary poll process in the state.

While the state government had been asserting repeatedly that it was about to come out with an ‘Industry friendly’ policy, industrialists were hopeful that the policy would be announced before the elections by the SAD-BJP government. But, the somewhat delay in the announcement of the policy has virtually dimmed the spirits of industrialists particularly, exporters, who, were already facing the heat of competition from China in respect of product volumes and prices.

The Punjab local bodies and Industry and commerce minister Mr. Manoranjan Kalia, who, was here to distribute subsidy of Rs. 50 crore to 179 industrial units of the city said that the state cabinet had approved the proposal of the special economic act and would be placed in the assembly for its approval soon. He said the previous congress regime had prepared the draft of the act but failed to take it up. He said the government might have come out with the new industrial policy for the state but, due to certain minor amendments which were needed, it had been delayed.

The minister said that the SAD-BJP government had distributed a sum of Rs. 300 crore as subsidy to the industrial units of the state till now so far including, the amount of Rs. 50 crore distributed today whereas, the previous congress government had distributed only 5 crores of rupees during its entire tenure of five years. He said the remaining 470 industrial units of Jalandhar district would be distributed another sum of Rs. 50 crore as subsidy shortly. He disclosed that the state government had sanctioned a sum of Rs. 20 crore for the development and maintenance of the industrial focal points of Ludhiana , Jalandhar of which a sum of Rs. 8.50 crore had been allocated to Jalandhar focal point. share of Jalandhar had been Amritsar .

On the other hand, the industry representatives have maintained that what industry needed at this juncture was not a policy but, concessions in practical terms to come out of the quagmire of problems. “ Two and half years have passed of this government. No difference will be there if the government does not announce the policy at this juncture. The industry is in need of concessions like freight concession, exemption from house tax, early VAT refund on exports and tol l tax exemption. The Rajasthan and J&K governments are already giving such reliefs. The industry needs uninterrupted power supply and not just a piece of paper in the name of policy,” said Ashwani Kohil, the Vice-President of the Punjab Chamber of Small Exporters.