Manufacturing Investment Region to be set up in Punjab

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Ludhiana, Oct 10 (UNI) A mega Manufacturing Investment Region (MIR) is likely to be established in Punjab which will given an impetus to the manufacturing industry in the state.

"The Prime Minister has agreed in principal to allot one MIR to Punjab", Union Minister of state for Industries Ashwani Kumar said here today.

Addressing mediapersons, he said that the MIRs in Public Private Partnership (PPP) mode would have all world class facilities, including housing and state-on-the-art manufacturing units. There would an international airport in a 200-km radius of an MIR, he added.

The Minister pointed out that the national manufacturing sector was growing at the rate of 12 per cent per annum, However the growth rate of this sector in Punjab had gone down in the last few years and a MIR would push this up, he added.

Evading questions on giving central incentives to the industrial sector in Punjab, Mr Kumar pointed out that a rum of Rs 80 crore had been made avaliable to the Foundry Industry of Batala. The central government has sanctioned a number of projects for the border state for which 75 per cent funding would be by the Centre.

Admitting that neighbouring states like Himachal Pardesh had attracted investments due to the special central incentives, the Minister said that the invetsment scenario in Punjab was bound to change as there was a great deal of emphasis on strengthen the infrastructure here. Power shortage is a problem in Punjab, but hopefully it would be sorted out as the central government had cleared three thermal plants for the state, he added.

The Minister later interacted with local industrialists and assured them that their problems would be sorted out.

UNI

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