Punjab to provide exemption in CLU, EDC to pvt industrial parks

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For boosting the development of private industrial parks in the State, the Punjab Government would soon provide exemption in the CLU (change in land use) and EDC (external development charges). Announcing this, the state’s Industries and Commerce Minister Sunder Sham Arora on Monday said that an area of at least 25 acres has been fixed for the setting up of private industrial parks with permission to be given for construction of residential and commercial establishments in 50 percent area. “No CLU or EDC would be levied on any part of the private industrial park,” said the Minister.

Arora said that the Industrial and Business Development Policy 2017 was notified in October 2017, and modified in July 2018 thus strengthening the industrial infrastructure of the State with a view to give fillip to the private industrial parks. The Housing and Urban Development Department has issued the notification for giving exemption from paying CLU or EDC in respect of such private industrial parks, he addd. Divulging about various industry-centric initiatives undertaken by the State Government, he said that whereas on one hand, the single window system is being practiced for establishing new industrial start ups, on the other hand, the Invest Punjab Business First portal has also been launched.

Those investors interested in setting up their private industrial park, are given online approvals through the portal, he said. The Minister said that the industrial units, to be set up under the private parks, would be exempted from stamp duty, electricity duty and the GST in accordance with the ‘Industrial and Business Development Policy 2017’.He exhorted the investors to avail maximum benefit from the industry friendly policies being pursued by the Punjab Government.

Read More at: https://www.dailypioneer.com/2019/state-editions/punjab-to-provide-exemption-in-clu–edc-to-pvt-industrial-parks.html