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Punjab goes in for SEZ Act
WSN Bureau
CHANDIGARH:
Continuing to push for a capital and credit intensive neo-liberal
model of economic development that is highly urban centric and is
eliciting widespread opposition, the state government seems to be
going full steam ahead with its agenda. The Punjab Assembly has
passed the Punjab Special Economic Zones (SEZ) Bill, 2009,
ostensibly aimed at boosting industrial development in the state.
The Act provides for complete exemption from any state levy, tax,
duty, fee, or cess.
Thus far, units
could benefit only from exemption of Central levies under the SEZ
Act of the Union Government of India.
Under the Punjab
SEZ Act, the exemptions would be on the export or import of goods,
interunit transaction, and movement of goods within the SEZ, the
minister said, adding it would also accord Public Utility Status
(PUS) to units in the SEZs. With this status, workers would not be
able to go on strike without prior notice.
The Act provides
for exemption from stamp duty, registration fee and social security
cess on the purchase of land for SEZs and also on the first transfer
or lease of immovable property within the SEZ for industrial,
commercial or residential purposes. The Act would allow generation
of electricity within or outside the SEZ for the consumption of
units in the zone. There would be no duty on electricity generation,
transmission, distribution or consumption.
15
July 2009
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