After Investors’ Summit, Infrastructure Summit Lucknow, In March
Soon after the conclusion of Investors’ Summit in February, the PHD Chambers will host an infrastructure summit in the state capital. Expected to be held in March, the summit will bring together well-known names in construction and UP government on the same platform to discuss issues affecting the sector and what can be done to revive it.
We would like to bring in people who are involved with affordable housing, smart cities etc. This will work like a follow up of the Investors’ Summit and strengthen its outcomes. Corporates will be invited to speak about their expectations from the government while government representatives will be there to respond to their concerns, said co-chair, PHD Chambers.
Sources said the infrastructure industry, especially in UP, is going through a critical period with several projects delayed and many, in the aftermath of GST, having stopped work altogether.
Since there was no clarity over GST for the first several months, many projects slowed down significantly. Many housing projects are languishing with raw material having become expensive. Then, for the current state government, compensation to farmers was a poll promise which they attempted to fulfil as soon as it came to power. The result was that there are no funds for projects like irrigation, canals, roads, bridges etc.
This summit is likely to be followed by a tour of the US by chief minister where he will meet potential investors and then another mega investors’ summit in October where there will be a greater participation of foreign countries.
Source Link – https://timesofindia.indiatimes.com/.