To boost 'Ease of Doing Business' for Micro, Small and Medium Enterprises (MSMEs), the Punjab Cabinet led by Chief Minister Captain Amarinder Singh on Monday approved a list of NOCs required for setting up of industry in the state.
With this move, Punjab has become the first state in the country to take systematic proactive steps for improving ease of doing business in matters of NOCs to enable MSMEs to flourish and prosper in the state, an official release said.
The Chief Minister had, in his Independence Day speech, announced the state government's decision to promote MSME business in the state, and the list approved is in line with it.
"It is based on recommendations of the Global Alliance for Mass Entrepreneurship (GAME) - an organization engaged by Punjab Government to make Punjab a progressive industrial hub," the release said.
A Memorandum of Understanding (MoU) was signed between the Department of Industries and Commerce, Punjab and Global Alliance for Mass Entrepreneurship (GAME) in November 2020, with a tenure of two from November 2, 2020, to initiate new industry reforms.
According to a spokesperson of the Chief Minister's Office, the approved exhaustive list of NOCs will be a definitive source for entrepreneurs to access all NOC related information for establishing and operationalizing business.
In future, any addition in the approved list of NOCs (no-objection certificates) shall be made by the concerned administrative department after approval from the council of ministers, the release said.
( With inputs from ANI )
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