Punjab Cabinet nod to Bill to boost small industrial units

CHANDIGARH: To further improve the state's investment climate and generate employment, the Punjab Cabinet on Sunday approved the conversion of the Factories (Punjab Amendment) Ordinance 2020 into a Bill to be tabled for enactment of law in the Vidhan Sabha on Monday. The approval came during a virtual meeting of the Council of Ministers headed by Chief Minister Amarinder Singh.

The Bill provides for changing the existing threshold limit for small units. The change has been necessitated by the increase in manufacturing activity by small units in the state, and is aimed at promoting small manufacturing units.

This would help create more employment opportunities for workers, according to an official spokesperson.

The Bill will also incorporate Section 106-B in the proposed Act. This will facilitate faster settlement of cases and reduction in court action, said the spokesperson. (IANS)

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