APIIC to adopt pro-industry policy

HYDERABAD: With a view to have a ‘pro-industry’ policy, the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) has decided to bring in vast changes in its functioning by modifying the existing regulations which were framed 40 years ago.Accordingly, it has formed a committee comprising retired APIIC officials to collect opinions of the CII, Fapcii and entrepreneurs by holding meetings at Warangal, Tirupati, Vijayawada, Visakhapatnam and Hyderabad.Talking to Express after the board meeting, APIIC chairman Siva Subrahmanyam said the board has decided to constitute a committee and its members would hold meetings to elicit opinions from the representatives of CII, FAPCII and business entrepreneurs.The objections and suggestions received by them would be placed before the state government for approval.“The concept to bring in changes in the APIIC’s regulations is to have a proindustry policy,’’ he asserted.With regard to the proposal to restore 11 percent stake in Raheja project, the APIIC chairman said the issue was referred to the state government since it has signed the MoU with the company.The board has also decided to take legal opinion in respect of violation of agreement relating to Lepakshi Knowledge City project.It has also been resolved to send a report to the government for further action on the project.