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Punjab to offer one-time settlement to sick units

Three logistics parks to come up in Ludhiana to stimulate industrial growth.

Statesman News Service | Ludhiana/Chandigarh |

Punjab government is set to introduce one-time settlement (OTS) policy for sick units, Industries and Commerce Minister Sunder Sham Arora said on Friday. He claimed that the policy would provide a fresh lease of life for sick industrial units in the state.

The OPS policy would be reviewed in the next cabinet meeting, Arora informed. He took credit that due to efforts of the Congress-led Punjab government, several sick units in Mandi Gobindgarh area restarted their operations, which overall was a good sign for industry.

Addressing the gathering on the occasion of Punjab Logistics Conclave 2018 in Ludhiana, Arora said three mega logistics parks coming up in the Ludhiana district would act as stimulants for the growth of industry in the state.

The minister informed that all the three parks would come up near Kila Raipur village of the district. He added that the parks included Multimodal Logistics Park to be set up by Adani group. The other two would be set up by Punjab Logistics Infrastructure Limited and Punjab State Warehousing Corporation.

Arora said that the parks would cater to all logistics needs of the industrial belt of Ludhiana and nearby regions such as Jalandhar, Amritsar, Bathinda, Sangrur, Patiala, Fatehgarh Sahib and Hoshiarpur.

These minister claimed that the logistics parks would be a one stop solution for all logistics, transportation and warehousing needs of the. He mentioned that a special cell had been formed by the state government so that the logistics sector was not ignored.

The minister said land banks had been developed in different parts of the state and the state government was willing to provide land at reserve price to the industrialists forming clusters. He declard that 25 clusters had been approved in the state besides two new clusters for oil expeller industry in Ludhiana district.