Shimla, Mar 31 (KNN) The Himachal Pradesh government has decided to set up an investment bureau with the aim to scale up the ease of doing business and minimise delay in getting requisite approvals through the single-roof facilitation mechanism.

Chief Minister Sukhvinder Singh Sukhu on Wednesday said that the investment bureau will be set up under the industries department and comprise of officers from all departments concerned to facilitate hassle-free approvals of proposed investments.

“Additionally, penal provisions will be in place for the officers responsible for any delays,” he said.

He added that the bureau will consist of two panel, an executive committee headed by bureau’s CEO overseeing investment cases on a day-to-day basis and an apex committee headed by the chief minister for approving investment proposals.

The primary reason for setting up the investment bureau is to expedite the approval process, allowing investors to start working sooner. The government will make necessary amendments in the law to empower the bureau.

The state government is aiming to attract investments in tourism, IT, solar energy, green hydrogen and various other sectors.

These investments will generate revenue for the state exchequer and offer employment opportunities to the youth, the chief minister said. (KNN Bureau)