Punjab govt introduces colour-coded stamp papers for industry

Punjab Chief Minister Bhagwant Mann on Friday said the state government has decided to introduce green colour-coded stamp papers for the industry sector, which will facilitate early clearances of the projects for industrialists.

Mann said clearance for new industrial projects will be given within two weeks for the industrialists after they apply for the same with the green colour-coded stamp paper.

This will facilitate the industrialists, he said in a video message.

The green-coloured stamp paper will mean the factory owner has taken all permissions, he said.

Punjab is the first state which has decided to have colour-coded stamp paper for industry, he said.

The chief minister said, "For example, if any industrialist wants to set up a factory in Punjab. When he identifies the land, he will have to inform the government through the 'Invest Punjab' portal or visit its office and apply. "Our Change of Land Use team, which grants permission, will take ten days for the process. After the go ahead by them, the industrialist will be asked to purchase the green colour stamp paper.

"This stamp paper will be costlier than other stamp papers. It will have all necessary permissions, including Change of Land Use, Forest department clearance, Pollution and Fire department fees, and NoCs will be included in these stamp papers," he said, adding that the step will save industrialists from hassles.

After the land registry is done, the unit owner can begin setting up his factory.

Later, colour-coded stamp papers will also be used for housing and other sectors, he added.