Review of investment projects leads to expedited 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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Panaji: The Goa Investment Promotion Board (IPB) convened a meeting on Thursday to assess ongoing investment projects and finalize amendments to proposals that were initially approved. "Chaired by Chief Minister Pramod Sawant, the meeting focused on reviewing existing projects," stated Swetika Sachan, the CEO of the board. Sources report that the board endorsed ONGC's request to expand the land for the Betul facility. Sawant also evaluated the progress of reforms undertaken by various departments in line with the Business Reforms Action Plan (BRAP) and urged for overdue reforms to be expedited to ensure effective implementation of BRAP. "The Chief Minister instructed the board to commence evaluations of older projects that are stuck, inactive, or abandoned due to bankruptcy. In instances where investments are stalled due to the demise or departure of promoters, we may consider revoking permissions after identification," a source revealed. Furthermore, the board advised investment officers to assist projects approved during the 36th board meeting in July. Although 20 projects were discussed at the meeting, only 12 received clearance, collectively amounting to an anticipated investment of Rs 1,324 crore across various sectors such as electronics, logistics, pharmaceuticals, auto components, education, and packaging.