Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu has said that the state government is committed to formulating industry-friendly policies to promote investment in the state.

In a statement released here on Wednesday, Sukhu said that the state government has rationalized the electricity subsidies being provided to industries.

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“Himachal Pradesh still supplies power at cheaper rates to the industries as compared to the neighboring states. Large industries with supply voltage ranging from 33 KV to 220 KV will be offered electricity at rates which are cheaper than the neighbouring states of Punjab, Haryana and Uttrakhand by more than one rupee per unit,” he said.

“This implies that industries in Himachal Pradesh still enjoy a comparative advantage to neighboring States. There are only 159 industries in the State with supply voltage ranging from 33 KV to 220 KV,” he said.

In addition to the large industries with supply voltage ranging from 33 KV to 220 KV, there is another set of 2011 industries in the State with supply voltage of 11 KV and 22 KV, he said, adding that for these industries also the price advantage of more than rupees one continues in comparison to the neighbouring states.

For helping these industries, the government has in fact reduced the electricity duty form 16.5 percent to 10 percent, he stated.

He said that the state government is committed to the promotion of 31,298 small and medium industries in particular.

“Subsidy for these industries remains unchanged and the energy charges remain untouched,” he said.

The Chief Minister said that the rationalisation of electricity subsidies will not harm the interests of industries and reaffirmed the government’s commitment to fostering industrial growth.

“These industries provide employment directly and indirectly to thousands of youth of the state and we are determined to support their continued growth and the state is grateful for their contributions,” said Sukhu.