Ludhiana: With less than a week to do elections, entrepreneurs have submitted a request for a five-year tax holiday.
They reasoned that a large number of units had been closed or shifted from here in previous years because of lower business costs and incentives in other countries, and those left in Punjab face a difficult time.
Jagbir Singh Sokhi, president of a cluster technology park sewing machine, “Over the past few years, many factories are closed or moved to countries that offer benefits, which reduce their production costs.
The factory left in Punjab works on a very low profit margin and a pandemic Has hit them hard.
Therefore, the need for time given a tax industry for five years and all units are excluded from income tax.
“According to Rajkumar Singla, President Association of Ludhiana binder suppliers,” Punjab is the key to the land.
State and whatever industrial development What is happening here is mainly due to the efforts of the business community than any government.
In neighbor Haryana, the government consecutive ensures the development of infrastructure and timely industrial facilities for the industry, which moves forward so we cannot catch up for the next few decades.
The only way for industrial awakening a Dalah tax incentives, such as the neglect of income tax and GST replacement.
In addition, we might see more factories closed.
“Atul Saggar, Secretary General of the Association of Clothing Manufacturers, Ludhiana, said,” Some factors, such as high levels of power and expensive labor, increase production costs in Punjab.
The situation in such a way that it stated that 20 years ago did not have one factory now has more units than Punjab.
The only way to end this disparity is to offer tax incentives.
All our hopes are pinned to the next government now.
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