Right to Information Act, 2005
Punjab Agro Industries Corporation Limited (PAIC)
The norms set by it for the discharge of its functions – back
To discharge its function of Project promotion, PAIC releases advertisements from time to time inviting proposals from interested entrepreneurs/corporate houses for setting up of technically feasible & economically viable projects in the field of agro/food processing in joint/ assisted sector in Punjab. Entrepreneurs/corporate houses are also contacted directly for this purpose. After the private collaborator is selected and the project is approved by the Project Approval Board, the various clauses stipulated in the Financial Collaboration Agreement serve as norms for disbursement/ disinvestment of PAIC’s share of equity.
Similarly the mega projects are promoted through advertisements, personal contacts, presentation at industry forums etc. The norms set to discharge PAIC’s functions are defined in para 3 of Serial No 3.