Punjab govt to issue subsidy bonds to industrialists

Chandigarh, June 26 (UNI) The Punjab government has decided to issue non-tradeble capital subsidy bonds to all those industrialists whose subsidy claims amounting to Rs 500 crore are pending with the department of industries.

This decision was taken by the state cabinet which met here today under the chairmanship of Chief Minister Capt Amarinder Singh.

The decision was taken as the government had not been able to implement its earlier decision to issue tradable bonds following objections raised by the Union Finance Ministry and Reserve Bank of India (RBI).

These bonds will be issued with-in a two year period, that is Rs 250 crore in the first year and the remaining amount the following year.

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