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SRINAGAR, Oct 9: Advisor to Lieutenant Governor, K.K Sharma, today said that the Government is aware of the problems being faced by the local industrial and trade organizations in view of the ongoing pandemic and 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.
Pertinently, 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.
The webinar was also attended by Janinder Tanna, National President FIVM, VK Bansal National General Secretary, Sanjay Bansal, President JK Chapter FIVM and Presidents of different state chapters of the trade organizations.
While listening to the suggestions put forth by the participants, Advisor said that 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% waiver on electricity and water utility bills costing Rs. 105 crore, 5% interest subvention to all buyers for the current financial year costing about Rs 950 crore, promotion of export-oriented handicrafts by Industries & 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% interest subvention on Loan slab under Credit Card Scheme for handlooms and handicrafts will be enhanced from Rs 1.00 lakh to Rs 2.00 Lakh, he added.
Responding to demands with relation to the new industrial policy, the Advisor said that the necessary exercise is underway and it would soon be formulated. He said that 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.
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