CHANDIGARH: The Punjab Chief Minister, Beant Singh, will visit Washington in the near future to participate in the International Investment Conference to motivate the NRIs and the Punjabis settled abroad to invest in the state.
The invitation was extended by Shamsher Singh Bawra, Chairman, International Panel on Economic and Social Development of Punjab at a seminar on “Economy and Future Development of Punjab” organized here. The seminar was coordinated by The Institute for Development and Communications.
The Chief Minister highlighted the Strides made by the Punjab economy during the last three years and the 5(point strategy adopted’ by the state government for this purpose. He said the state’s own resources for funding the annual plans had improved from a Mega live balance of Rs. 812 crore in 199495 resulting in an unprecedented improvement of Rs. 1,687 crore.
He said the political leadership in ‘the state was determined to moderate the negative effects of economy by Creating more employment opportunities and ensuring equitable distribution of resources and wealth and starting new programs for the welfare of the weaker sections. He stressed the need for more investment in agro based and labor intensive industries. For this purpose, he invited investment from the NRIs and multinational corporations.
Beant Singh said his government was keen to create opportunities for farmers for taking on new trades and investing in industry. The thrust would be to case pressure on agriculture land by creating opportunities in other sectors of the economy including trades and industry, checking environmental degradation, crop diversification and exploiting new technologies for harnessing water resources.
Earlier, Bawra said with the availability of excellent manpower and infrastructure, the state’s economy could grow at the rate of 15%. He said the NRIs of Punjab origin were keen to invest here.
Article extracted from this publication >> August 4, 1995
