(1) There shall be an Executive Committee which shall report to the Board of Governors.
(2) The constitution of the Executive Committee shall be as follows, namely: -
(i) Chief Secretary, Punjab; : Chairman
(ii) Principal Secretary, Finance; : Member
(iii) Principal Secretary to Chief Minister; : Member
(iv) Principal Secretary, Industries and Commerce;
: Member
(v) Principal Secretary, Investment Promotion; and : Member
(vi) Chief Executive Officer. : Member- Secretary
(3) The Executive Committee may invite the concerned Administrative Secretary or any other officer of a Department as a special invitee to discuss and finalize any specific proposal or issue of such Department.
(4) The Executive Committee may co-opt any other member, if so required, for proper and effective discharge of its functions.
(5) The Executive Committee shall regularly guide, monitor, supervise and review the functioning of the Bureau.
Executive Committee.
(6) The Executive Committee shall be responsible for recommending to the Board of Governors regarding investment proposals that seek fiscal or other incentives outside the policies of the Government, notified or formulated from time to time.
(7) The Executive Committee shall carry out such other functions, as may be assigned to it by the Government or the Board of Governors.
(8) The Executive Committee may refer any matter or issue to the Government or to the Board of Governors with its recommendations or suggestions, if considered necessary; and
(9) The Executive Committee may delegate any of its powers to the Chief Executive Officer.
6. The Executive Committee may constitute from time to time, such Special Committee(s), as may be considered necessary to assist it in carrying out its functions and facilitate investments in the State.
7. Functions of the Chief Executive Officer shall be, -
(a) to receive, process and approve all investment proposals in the State;
(b) to coordinate with the Government to encourage new investment and its actualization in the State in respect of all sectors of trade, commerce and industry;
(c) to grant requisite approvals if the proposal is covered under the Punjab Fiscal Industrial Incentives Package, 2013 or any such similar policy, package or programme of the Government, subject to the fulfilment of conditions specified for necessary statutory and other approvals;
(d) to grant approvals in cases where all necessary statutory and other approvals are received or deemed to have been received;
(e) to issue Certificate of Eligibility for incentives as per policy;
(f) to refer cases which are not fully covered under the policy of Government to the Executive Committee;
(g) to assist various administrative/line departments whose powers are devolved upon him under various Legislations /Acts/Rules/ Regulations in evolving a procedure for carrying out annual audit of the proposals approved by the Bureau during a financial year;
Special Committee(s).
Functions of the Chief Executive Officer.
(h) to resolve inter-departmental matters and coordinate with the concerned departments, qua any investment proposal, through various officers of line departments working in the Bureau;
(i) to guide a project proposer/applicant with regard to any investments in the State in such a manner, as he may consider appropriate to ensure that the investment is made at the earliest;
(j) to authenticate all documents on behalf of the Bureau;
(k) to make such procedures, as may be required for the efficient functioning of the Bureau. The Board of Governors shall be notified of such procedures as it deems fit from time to time; and
(l) to discharge such other functions, as may be assigned to him by the Government or the Board of Governors or the Executive Committee from time to time.