Vijayawada: State govt on Tuesday constituted the State Investment Promotion Board (SIPB) headed by chief minister and the State Investment Promotion Committee (SIPC) headed by chief secretary.
The objective of these two separate entities is to create an appropriate organisational structure to achieve speed in decision-making, realising industrial and infrastructure investments, and leading to better employment opportunities.
The chief minister will be the chairman of the SIPB with deputy chief minister, finance, HRD, revenue, MAUD, agriculture, labour, R&B, industries, tourism and special chief secretary as members, and chief secretary as member convenor.
The SIPB is mandated to meet at regular intervals to examine all proposals related to industrial and infrastructure investments.
On the other hand, the SIPC, under the chairmanship of chief secretary, will facilitate the functioning of the SIPB. Special chief secretaries or principal secretaries of revenue, transport, R&B, energy, finance, water resources, industries, GAD, planning, and any other secretary will be special invitees whenever required. Commissioner of industries will act as member convenor.
The principal secretaries concerned willing to place their proposals before the SIPC for a decision shall send the agenda notes to the commissioner of industries. The agenda notes will then be circulated by the commissioner of industries to all the members, collate their responses, and place them before the SIPC in consultation with the chairman.
The committee, after deliberations, will place their remarks before the SIPB for consideration and approval or for a suitable decision.
The SIPC will also review various industrial and infrastructure investments in the state from time to time as approved by the govt through the mechanism of the SIPC and SIPB and take appropriate decisions for the expeditious implementation of the projects.
State govt excluded the decisions taken in SIPC from the purview of any inquiry by the Anti-Corruption Bureau and Vigilance and Enforcement as per GO 224 of 1999.
