Waives power fines; plans pharma city
Telangana CM K Chandrasekhar Rao. (Photo: DC/File)
Hyderabad: Telangana Chief Minister K. Chandrasekhar Rao on Tuesday directed officials to lower VAT on raw materials to below that of neighbouring states to prevent loss of business to other states.
“After hearing you (industrialists) since morning, I understood that one common problem that you face is higher taxes compared to neighbouring states. It requires basic common sense to understand that business goes to whichever shop offers a cheaper price. So instead of offering piecemeal solutions, let’s address this issue. I am directing officials to compare our taxes with neighbouring states and have a tax rate that is a notch below others,” said the CM intervening in a interactive meet that lasted for an five hours.
"We need to encourage the pharma industry, wherein Telangana is the leader. So it would be appropriate to have world-class treatment plants such as in Europe. If the industry wants, the government will allot land at Kazipally-Bollarum and all existing pharma plants in and around Hyderabad should be shifted to the new cluster,” he said.
The pharma city could come up on 1,000 to 2,000 acre at Kajipally and Bolaram that abuts the Outer Ring Road, north of Hyderabad. Other newly set up manufacturing units would also be encouraged to come up along the ORR, said Mr Rao.
The Chief Minister also floored MSMEs by waiving Rs 50 crore worth penalties levied on them for overdrawing power and also promised to released Rs 800 crore subsidies pending since last year in a phased manner.
( Source : dc )
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