Review of investment projects by organization leads to quick implementation of reforms
Panaji: The Goa Investment Promotion Board (IPB) met on Thursday to review pending investment projects and ratified changes to proposals that were granted in-principle approval. “The meeting, chaire...
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The Goa Investment Promotion Board (IPB) convened a meeting in Panaji on Thursday to evaluate pending investment projects and approve adjustments to previously granted proposals. Chaired by Chief Minister Pramod Sawant, the meeting focused on reviewing older projects, with the board’s CEO Swetika Sachan noting the importance of this review. Sources reported that the board granted approval for ONGC to expand the Betul facility. Sawant also monitored progress on reforms within different departments as part of the Business Reforms Action Plan (BRAP) and urged for expediting pending reforms to effectively implement BRAP initiatives. Additionally, the CM instructed the board to assess old projects facing delays, obstacles, or closures due to various reasons like bankruptcy or the departure of project promoters. It was suggested that permissions for such projects may be withdrawn after identification. Furthermore, the board instructed investment officers to provide support for projects approved during the 36th board meeting held in July. Out of the 20 projects discussed at the meeting, only 12 received clearance. These 12 projects, expected to attract investments totaling Rs 1,324 crore, span across sectors like electronics, logistics, pharmaceuticals, auto components, education, and packaging.