Centre's plan to revise PCPIR policy to make implementation by states easy and to attract investment

21-Sep-15

The Centre is planning to revise the Petroleum, Chemical and Petrochemical Investment Region (PCPIR) policy to make it attractive for states to implement it and attract investment. We are planning to bring certain changes and revise the policy in the next six months," joint secretary to the ministry of chemicals and petrochemicals Avinash Joshi said on the sidelines of ICC organised Petrochem 2015, as per PTI. Mr Joshi said the policy will be revisited as it did not take off very well since 2007 and to make it more feasible for states to execute. Among the major revisions would be to scale down land requirement from the present norm of 250 sq km for a PCPIR to 50 sq km. Other demands like financial support, clearances, additional anchor tenant and single window clearances were likely to be incorporated in the revised policy."