NRI investment is lacking for mistrust of Badals - 23/01/2011

Ludhiana 23 January. Qila Raipur MLA Jassi Khangura today stated that NRIs were not investing in Punjab because they do not feel that their investment would be secure under the current regime.

Khangura stressed that all substantial government clearances need the support of Sukhbir Badal, a person that NRIs simply do not trust, who does not keep his word and who is quiet capable of supporting a competitor applicant.

The MLA argued that the fate of NRI investments was decided at the start of this administration when this government cancelled the change of land use (CLUs) of 31 mega projects cleared by the previous government. He clarified that the Badals having sought the "support" of all 31 promoters during the 2007 election campaign, promptly cancelled the CLUs immediately upon government formation. Yet, inexplicably, some 4 months later the CLUs were reinstated for 27 of these projects without even an iota of change. Father and son need to either admit that the CLU cancellations were unjust, if not what consideration merited their reinstatement.

Khangura added that two substantial NRIs, well known to him, who had made significant investments in Punjab during the last administration aggregating to hundreds of crores, have simply refused to do anything whilst the SAD rules the roost.

The MLA added that it is well known that political corruption in Punjab make many projects unviable. NRIs deserve respect, a warm welcome and the support of this government. Instead, NRIs merely get paid lip service and suffer from numerous unjust demands to support to the NRI kith and kin of SAD politicians.  

A former NRI himself, Khangura clarified that whilst NRIs loved their motherland and genuinely wished to invest in Punjab, they will do not do until they see the back of the Badal father and son duo.

The MLA regretted that after aiding and abetting the loot of thousands of crores of NRI assets, with what face does Sukhbir now ask for NRI investment?

Khangura stated that whilst senior leaders of other states go overseas to directly pitch to NRIs, Sukhbir and his father simply choose to hide. The MLA enquired about why this government did not open the 4 overseas offices in the UK and North America for inward investment to Punjab that the CM promised at the January 2008 NRI Samellan at Jalandhar?

Khangura lamented that even today Sukhbir expects NRI businessmen to line up and wait for him, when he himself should be selling investment in Punjab to NRIs on the their turfs, in their cities and in their homes.

Khangura closed "NRI businessmen have untold unsavoury experiences with the CM and DCM that they will never trust this father and son duo again".

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