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States » NorthPosted at: Oct 9 2020 7:34PM


Steps underway to address industrial, trade issues: Advisor Sharma

Srinagar, Oct 9 (UNI) Asserting that the Government is aware of the problems being faced by the local industrial and trade organizations in view of the ongoing pandemic, Advisor to Lieutenant Governor, K K Sharma, on Friday said interventions like recently announced package have been made to provide some relief to them to overcome the present stressful situations arisen due to COVID-19.

The Advisor was interacting with the representatives of Federation of All India Vypar Mandal (FIVM) and thousands of traders from different states through a webinar organized by the organization to felicitate the LGs Administration for announcing the historic economic package of Rs 1350 crore announced for revival of the business sector in the Union Territory of Jammu and Kashmir and also to discuss the Ease of doing Business, an official spokesperson said.

He said FIVM is a national trade organization having more than four crore traders all over the country as its members and 140 trade organizations and 2.50 lakh traders of JK are affiliated with it.

While listening to the suggestions put forth by the participants, the Advisor said the interventions underway and those in the offing would largely address the trade, industrial distress and also provide the much needed relief to traders connected with different economic and trade activities which have suffered like other parts of the country due to the global corona pandemic.

“The UT government has also held periodic sessions with Industry associations to understand their issues and tried to assuage them as a result of this LG has introduced Rs 1350 crore benefit package for local industry,” the Advisor maintained.

He said that the package gives, 50 per cent waiver on electricity and water utility bills costing Rs 105 crore, 5 per cent interest subvention to all buyers for the current financial year costing about Rs 950 crore, promotion of export-oriented handicrafts by Industries and Commerce department via conducting Buyer Seller meet, encouraging ease of doing business in J&K by introducing a robust single window system for all clearances.

Besides, identifying and eliminating redundant laws and approvals for setting up of new industries, land to be provided in the industrial estates for the establishment of the warehouses also and 7 per cent interest subvention on Loan slab under Credit Card Scheme for handlooms and handicrafts will be enhanced from Rs 1 lakh to Rs 2 Lakh, he added.

Responding to demands with relation to the new industrial policy, the Advisor said the necessary exercise is underway and it would soon be formulated. He said it would be in tune with the new trends and would be taking care of the concerns and demands of the local industry and aspiring entrepreneurs.

While referring to Atam Nirbhar Bharat Package announced by the Central Government, the Advisor said it would also address majority of the issues of the trade bodies, Industries besides the Government of Jammu and Kashmir would also pitch in with its efforts. He said that the industrial sector in the union territory is as vibrant as in other parts and the necessary measures would be undertaken to ensure its catalyzation.

The participants of the webinar also raised several demands like redressal of the National Highway issues, revival package for JK Traders in view of abolition of toll tax at Lakhnpur and other issues.
UNI ABS SY 1933
Tags: #Steps underway to address industrial# trade issues: Advisor Sharma
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