New MSME units need no clearances from govt for three years: Punjab CM

Mohali, Dec 6 () Punjab Chief Minister Amarinder Singh on Friday said new micro, small and medium enterprise (MSME) unit in the state will not be asked for certain permissions for three years under the Punjab Right to Business Act 2019.

"We have said for three years you do not need permissions. If you want to put up a plant tomorrow, put it up and get your clearances over three years. Nobody is going to ask you for anything," Amarinder said while addressing a gathering on the concluding day of the Progressive Punjab Investors Summit here.

The state cabinet on December 2 had decided to bring in the Punjab Right to Business Act 2019 and Punjab Right to Business Rules 2019 to reduce the regulatory compliance burden by waiving the requirement of certain approvals and inspections for establishment and operations for MSMEs in the state while introducing the provision of self-declaration.

Meanwhile, Punjab Bureau of Investment Promotion CEO Rajat Aggarwal said under the Punjab Right to Business Act 2019, an industrialist could set up a MSME unit first and could apply for permissions like registration under shops and establishment act, change of land use, building plan approvals and fire related no objection certificate after three years.

Punjab is home to more than two lakh registered MSME, which form its industrial backbone. It covers sectors like auto components, agriculture implements, bicycle, bicycle parts, hosiery, hand tools etc.

The Punjab government organised a two-day Progressive Punjab Investors Summit which concluded on Friday. The event saw participation from the micro, small and medium enterprises, apart from leading industrialists, new-age entrepreneurs, foreign missions and other dignitaries. CHS BAL BAL