Excelsior Correspondent
JAMMU, May 14: Federation of Industries Jammu (FoIJ) today appreciated the decision of the Government to revisit the new Industrial Policy.
An Executive Committee meeting of Federation of Industries Jammu was held under the chairmanship of Lalit Mahajan in which the members appreciated the decision taken by Chief Minister Mehbooba Mufti to revisit the Industrial Policy -2016 to make it more comprehensive, broad-based and inclusive without compromising the J&K special position for the speedy Industrial growth.
The members welcomed the Govt decision to take care of the aspirations of stake holders and requested the Chief Minister to issue necessary instructions to Industries and Commerce Department that while revisiting the Policy some suggestions should also be incorporated.
They pointed out that allotment of Industrial land for 90 years as per the Industrial Policy 2004 was the noble idea of Late Chief Minister Mufti Mohd Sayeed and due to this lot of Industrial units established in J&K from 2004 till 2015.
FoIJ also suggested that Industrial land should be allotted on lease for a period 90 years and renewed afterward without any charges. Free hold rights should be given to the sons of the soil for the allotment of Industrial land.
Project completion time should be given for five years from the date of effective steps and in case of non completion of the projects in the stipulated period an exit route should be given to the unit holders through the change of the constitution/transfer of the already created assets within the Unit as per the existing transfer policy of J&K SIDCO/SICOP. The already allotted land for the future growth of the Unit under substantial expansion programme should not be retrieved.
FoIJ suggested adequate funding to be provided for the revival of sick industrial units for which Government should create corpus fund. Technocrat subsidy incentive should be included in the Policy to provide relief to the technocrat for the setting up of their Units. Transport subsidy incentive should be given to the Industrial units for the dispatch of their Finished Goods up to Delhi.
The meeting was also attended by Rajesh Jain, Vijay Aggarwal, Romesh Badyal, Ajit Bawa, Rajinder Gupta, S B Abrol, and Ajay Langer.
Trending Now
E-Paper
Follow our WhatsApp channel