Panaji, July 18 (KNN) As a part of the inputs on the draft Goa Industrial Growth and Investment Promotion Policy – 2022, the local Industrialists have suggested the government to set up a security fund for MSMEs.

The list of recommendations was submitted by the Goa Chamber of Commerce and Industry (GCCI) to Swetika Sachan who is the CEO of the Goa Investment Promotion Board (IPB).

Recommending the state to constitute a dedicated state-level banker’s committee (SLBC) which can create a special corpus fund, the industrial body said the corpus will act as a security fund for MSME units under crisis management. 

Looking out for industrial workers losing jobs due to industry closures, the chamber has urged the government to explore the possibility of creating a safety net scheme for them.

GCCI has also suggested amendment of the Goa Right of Citizens to Time Bound Delivery of Public Services Act to improve ease of doing business in Goa along with giving the enforcement powers to Goa IPB.

“Available land utilisation in Goa Industrial Development Corporation should be 100 per cent and a monitoring cell may be created,” GCCI said.

“On the statutory lines, a detailed review of central and state laws impacting the industry is required, to avoid overlap and confusion in the minds of investors,” GCCI said in its recommendations.

The body has also called or a special economic zone for women entrepreneurs with incentives.

Apart from the various incentives offered by the state, the government could also offer stamp duty reimbursement, land cost rebate, land conversion reimbursement and power cost reimbursement, said GCCI.  (KNN Bureau)