Date:15/10/2004 URL: http://www.thehindubusinessline.com/2004/10/15/stories/2004101502601900.htm

Back AP to set up task force on investments

Our Bureau

HYDERABAD: The State Government proposes to constitute a task force headed by a senior IAS officer for attracting investments into the State. It is also considering extending major concessions to the industry, including reduction in power tariffs, tax rebates and subsidising water supply connections.

These proposals were discussed at a high-level meeting chaired by the Chief Minister, Dr Y. S. Rajasekhara Reddy. The Commercial Taxes Minister, Mr K. Ramakrishna, the Minister for Major Industries, Mr B. Satyanarayana, and the Chief Secretary, Mr Mohan Kanda, attended the meeting.

According to sources, the Chief Minister asked the officials to explore the possibility of lowering power tariffs for the industry from the existing Rs 4.08 per unit to Rs 2.05 per unit and subsidising the interest on the loans taken by industries for getting water supply connections. The meeting also considered the proposal to evolve a policy to revive sick industries.