Having completed a month in office, Captain Amarinder Singh government is gearing up to introduce its new industrial policy within 90 days of formation of the new government.

The Congress in its manifesto, has promised to revive the existing industrial units by resolving their problems. The new policy will address all the issues and requirements of different industries such as textiles, yarn, hosiery, hand tools, light engineering, pharmaceuticals, cycles, garment making, sports goods and paper, differently and effectively.

According to the sources, the draft of the new industrial policy will take at least one week. The meeting was called by the chief minister on Tuesday in this regard.

"We are in regular talks with the CM office for the purpose. We are in process to conclude all important points in the draft of the new industrial policy," said a senior bureaucrat wished not to be named.

Congress has also promised to set up an industrial urban corridor between Amritsar and Chandigarh along the axis of the Grand Trunk (GT) road and the Hoshiarpur, Gurdaspur roads along with satellite townships as well. The motive behind this move is to open up major areas of the Punjab for Industrial Development.

Also, a new land bank will be created for industrial development. Adding to this, electricity tariff for the existing and new industry will be frozen at Rs.5 per unit for the next five years.

The Congress also promised to start the Border and Kandi district capital incentive scheme as per industrial policy 2002-2007.

A new policy for development of industrial clusters in the state is also on the cards. Likewise, development and maintenance of infrastructure in focal points and industrial estates will be taken up on priority basis. Also, special budgetary allocation will be made to improve the existing industrial infrastructures, particularly at the industrial estates and focal points.

The promotion of startup culture in Punjab is also a part of the new policy. A no objection certificate (NOC) for industries will be set up within the municipal limits in 1980 and 1990 will be exempted.

"We are having the same bureaucrats who were the part previous policy in 2015. All the individuals and industries participated in the meetings for that policy which could not be implemented. How we can have the high hopes as the same system still persists", Federation of Punjab State Industries Association (FOPSIA) president, Badish K Jindal, told The Statesman.