Kashmir industries chamber hails LG’s efforts in obtaining Central Industrial Package 2021

Srinagar: The Federation Chamber of Industries Kashmir (FCIK) has hailed Lt Governor Manoj Sinha for obtaining the Central Industrial Package-2021 for Jammu and Kashmir from the central government.
An extraordinary Executive Council meeting of FCIK was called for and attended by presidents of associations representing all the estates, districts and identified segments of industry from across Kashmir division to discuss the expectations from the new package.
The members expressed their gratitude to the Lt Governor for putting in his efforts in convincing the central government that the industrial sector in J&K required support and for obtaining the Centre’s approval for a package of 28,400 crore for existing and prospective industrialisation.
The members also appreciated the intention and vision of the Lt Governor for promotion of industry equitably in every nook and corner of Jammu and Kashmir.
While analysing components of the package, the members observed that some of the incentives incorporated in the scheme were worth appreciating but at the same time some vital incentives which should have found a place in it were missing.
The members acknowledged that affording differential incentives to different zones had the potential to take industrialisation programme to far-flung areas. The previous policy of 2002 that provided for uniform incentives lacked this basic understanding which led to inequitable growth and concentrated investment in just 3 out of 22 districts with about 90% of the incentives going there only. The members, however, stressed on the plea that entire Kashmir division and all other districts having disadvantages in communication, weather, etc, needed to be put under B zone.
The members also debated the issue of job creation and observed that whereas the new enterprises might take time to complete their ventures and initiate process of employment, the existing enterprises, if supported, had the potential of generating jobs immediately besides putting their fully or partially locked up assets to use.
The members also observed that along with the central package, industry would require many interventions at the UT level for facilitating and boosting the morale of entrepreneurs.
The Executive Council approved constitution of an expert committee for preparation of a detailed data-based technical analytical report of the central package along with the suggestions with regard to any change or amendment needed in the package. The members hoped that the government will receive and act on the suggestion in the true spirit of achieving the objectives with the acknowledgement that the outcome of any scheme was much more important than its output.
Speaking at the occasion, President FCIK Shahid Kamili acknowledged that the new industrial policy despite having many fruitful provisions had some deficiencies to meet the targeted objectives. He presented a detailed account of his meetings with concerned ministers at the centre as well as UT authorities in the meeting and said that almost all the difficulties and aspirations of local industry was brought to their notice. He regretted that despite assurances some of the vital interventions required for revival and growth of industry were missing in the package. The President, however, said that he had full faith in the Lt Governor.



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