Punjab Mulls New Energy Policy To Meet Next 25 Years Power Demand-Sukhbir

Focus On Exploiting Gas, Hydel And New Energy Sectors

5 Dariya News

Chandigarh 02-May-2013

Punjab is giving final touches to New Energy Policy of the State to meet the increasing power demands of every sector for at least next 25 years. Inviting industrialists to invest in the state in a conference ‘SAMRIDHI PUNJAB’ held here today, the Punjab Deputy Chief Minister Mr. Sukhbir Singh Badal said that thought Punjab would be Power Surplus by the end of this year by the commissioning of three thermal plants but the state government was not getting complacent with this achievement. He said that though these three thermal plants would take care of Power demand of next ten years but SAD-BJP Government was planning New Energy Policy to meet the demand of at least next 25 years. He said that the new energy policy besides traditional sectors of thermal power would also focus on Power generation from Gas, Hydel Resources and with increasing focus on New Energy Sectors like Solar, Biomass and Wind. He said that Punjab was contemplating to generate 1000 MW power from Solar Sector and contemplating a new model of partnership with multinational companies in this. “It would be a win-win situation for all stakeholders and within next 4 years, we will be able to rate of power substantially down,” Mr. Badal informed. 

Speaking about ensuing Investment Promotion Policy, Mr. Badal said that launch of this policy was getting postponed because he was personally going into the minutest details. Promising the most comprehensive interactive portal that would link all Departments, Mr. Badal said that New Policy was going for self certification and self-attestations by the industrialists rather than imposing bureaucratic controls. He said that like Income Tax Returns they would scrutinize 10% cases and move with the total faith on the applicant. 

Promising World Class Infrastructure, Zero Government interference, Zero Inspector Raaj, Mr. Badal said that with best Road Connectivity, Power Surplus Status, Negligible Labour Problem, Punjab is all set to become most favoured investment destination in the country. He said that with transparent and paperless taxation procedures he had been able to increase VAT collections from Rs. 5000 crore to 16000 crore and was focusing on touching Rs. 40000 crore in next three years that too without raising the rate of tax. He said that he was alive to the demand of industrialists and was mulling lump-sum tax on certain sectors including steel industry to increase their competitiveness. Mr. Badal said that he has been able to bring Powercom in cash profit of Rs. 300 crore by cutting down line loses and streamlining the distribution system.

Reiterating his resolve to bring down GSDP to debt ratio to 24%, Mr. Badal said that we have been able to bring this ratio from 46% to 30% and and further bring it down to 24% by next year. He said that this ratio was quiet healthy compare to the Union Government’s ratio of 60% and above 40% ratio of most of the other states. Mr. Badal said that Punjab was focusing of productive debt that is catalytic for growth. Earlier Mr. Badal had a fruitful meeting with entrepreneurs and industrialists from all over the country, who made sector specific queries from Deputy Chief Minister.