Chandigarh, Several representatives of major iron and steel industry associations from steel town Mandi Gobingarh today expressed their gratitude and thanked the Punjab Deputy Chief Minister Mr Sukhbir Singh Badal for providing an economic package to revive the sector and introducing insurance scheme for business community in the state.

Accompanied by Mr. Charanjit Singh Atwal, Speaker Punjab Vidhan Sabha, Prof. Prem Singh Chandumajra, General Secretary, Shiromani Akali Dal, Senior SAD leader Mr. Iqbalinder Singh Atwal, Mr. Jagdeep Singh Cheema, District President Fatehgarh Sahib more than dozen representatives from iron, scrap, furnace, rerolling, foundry and steel industry today met the Deputy Chief Minister at his residence and honored him with sword, shawl and presented bouquets.

On the occasion the industrialists’ delegation expressed that an economic package for the industry would provide major relief to this sector which had been passing through rough weather for past several years. The industrialists also said that it was for the first time that Punjab Government has introduced the social security scheme for business community that would benefit about two lakh dealers/ businessmen.

It is mentioned here that Punjab has slashed rate of VAT from 4.50% to 2% besides reducing advance tax on finished goods to 2.50%. Besides, new scheme Input Tax Credit has also been restricted to only two stages.