Punjab notifies SPV for and maintenance of industrial areas
Chandigarh, Jul 10 : The Punjab government today notified the Punjab Common Infrastructure (Regulations and Maintenance) Act 2012 to create Special Purpose Vehicle (SPV) comprising of all allottees of Industrial Area for upkeep and maintenance of Common Infrastructure in Industrial Areas of the State.
According to an official spokesman, the Act emphasis on creation of Industrial Infrastructure through public private partnership and encouragement is being provided by State Government for development of Industrial Focal Points and parks in Private Sector.
He said that there is need for creating a statutory framework to provide for the regulation and maintenance of common infrastructure -- roads, parks, street lights, water supply and sewerage system, garbage treatment facilities, drainage water sewerage treatment plant and common effluent treatment plant -- in an Industrial Area and to change for the common maintenance expenses.
The objective of the SPV would be to provide efficient service to the allottees at reasonable service charges and to work for the cause of good maintenance of common infrastructure.
He said that the SPV would operate within its jurisdiction on 'no profit, no loss' basis.
He said that the funds to be given to the SPV would be out of the proceeds of the Municipalities. The spokesman said that the percentage of funds to be given would be decided by the State Government through an executive order.
He said that these funds would be transferred by the concerned Municipalities to the 'Common Infrastructure Maintenance Fund' to be created and maintained in the Department of Local Government.
He said that the department of Local Government would in turn, transfer the money out of this Fund to the concerned Special Purpose Vehicle as per its requirements which would be assessed and approved by a committee consisting of Chief Secretary, Ex-Chairman, Principal Secretaries of Industries and Local Government departments with MD of PSIEC as Member Secretary.
Punjab has 42 Focal Points out of which 15 have been transferred to Local Government department.