Punjab Secures Rs 70,000 Cr Investment: CM Mann

Hoshiarpur, Feb 24 (PTI) Punjab has secured investments worth Rs 70,000 crore so far and many big companies are keen to set up units in the state, Chief Minister Bhagwant Mann said on Saturday.

He was addressing a gathering at 'Sarkaar Vpaar Milni' event organised to address issues faced by the trading community in the state.

The initiative aims to secure the well-being of the trading community, marking a significant step towards restoring the pristine glory of the state and boosting its economic development, said Mann.

Industry and trade serve as the backbone of every state's economy and should therefore be given a significant impetus, he added.

Underlining the importance of revenue and employment generation in driving state development, Mann said he has visited major cities such as Mumbai, Chennai, to invite industrialists to establish ventures in Punjab.

So far, investments worth Rs 70,000 crore have already been firmed up, with prominent companies expressing interest to invest in the state, Mann said.

The government is committed to safeguard the interests of local industries, the CM said, referring to them as the true brand ambassadors of Punjab.

He assured that the state government will support these companies in expanding their operations within Punjab.

Mann emphasised his role as the "custodian" of Punjabis' rights and interests, ensuring that every action he takes is aimed at the welfare of all sections of society.

Targeting previous governments, he alleged that leaders amassed wealth at the expense of the state, and cited conflicts of interest that led to neglect of public welfare in sectors such as transport, education, and health.

Calling upon traders to contribute to the state's progress and prosperity, the CM urged them to become partners in the "ongoing revolution" for Punjab's economic growth.

Mann said the state government purchased the Goindwal power plant from GVK Power at Rs 1,080 crore.

He hailed this as a reversal of past trends, where the state assets were sold at nominal prices, emphasising that Punjab has now acquired the power plant at a rate of Rs 2 crore per MW, significantly lower than similar purchases in the past.

He also announced the establishment of an industry advisory commission, with members from various sectors and industries.

This commission aims to address industry grievances and ensure smooth redressal of issues, he stated.