Prakasam Collector Dr Pola Bhaskara sanctions 73.85 cr incentives to industrialists in Ongole

Ongole: The Prakasam district Collector Dr Pola Bhaskara sanctioned Rs 73.85 crore to various industries as concessions and incentives in the District Industrial Promotion Committee meeting held at the Collectorate here on Tuesday.

In the meeting held with the industrialists, officials, and bankers, the collector ordered the officials to provide the subsidies to SC/ STs by taking the tractor as a unit. He said that the price for the trailer would be fixed before releasing it. He ordered the officials to provide necessary facilities to industrialists as they could apply online up to this month-end for restarting the units after COVID. He ordered the district lead manager to take initiative to provide collateral-free loans to under the Atma Nirbhar Bharat program. He also advised the general manager of the district industries center to conduct a market survey to buy 20 percent of the products from MSMEs. He ordered the officials to see no delay in issuing permissions in the single-window model and take necessary precautions in providing incentives on land.

The collector announced they are sanctioning Rs 73.85 crores as incentives and subsidies to budding industrialists. He explained that they have given Rs 28.35 crores as electricity subsidy, Rs 37.21 crores as the Rs 0.25 percent interest subsidy, Rs 45. 17 lakh as the commercial tax incentive, Rs 50 lakhs as stamp duty incentive, and others in the total amount. The JC K Narendra Prasad, DIC GM Chandrasekhar, LDM Yugandhar Reddy, APSFC BM Srinivasa Reddy, APPCB EE Nagireddy, DPO GV Narayana Reddy, and others also participated in the meeting.