Ensure timely completion of languishing projects of industry: FoIJ

Excelsior Correspondent
JAMMU, Jan 1: Federation of Industry Jammu (FoIJ) has urged upon the J&K UT Administration for the timely completion of languishing projects of Industry.
Chairman FoIJ, Lalit Mahajan and presidents of the Industrial Associations of Jammu Province, while extending gratitude to the Lt Governor Manoj Sinha for the creation of New Industrial Estates in Union Territory of J&K, demanded timely completion of the languishing projects of Industry in J&K.
Mahajan, lauded the decision of Jammu and Kashmir Administration for identification of over 57,000 acres of land for setting up New Industrial Estates for prospective entrepreneurs, out of which 15,000 acres of land have been identified in Kashmir valley, 42,500 acres in Jammu region for Development of more Industrial Estates.
He said this initiative will go a long way in boosting the Industrial scenario in J&K to generate employment opportunities and contribute to the local economy, for which Industrial Policy 2020 is already under the active consideration of Govt of India and it is the need of the hour to provide State/Central Govt Fiscal Incentives to existing units, units under substantial expansion and new units keeping in mind the factors like locational disadvantages, shallow market avenues within J&K due to hostile neighbouring countries.
FoIJ chairman said that they came to know through media today about meeting of the JKIDFC held under its Chairman & MD, Dr Arun Kumar Mehta to review the Languishing & Non- Initiated Projects out of which 21 Projects of Industries & Commerce Department have been dropped from the funding under JKIDFC. He said it is unjustified to drop 21 projects from the funding of JKIDFC which will put an adverse effect of the completion of the projects which were planned keeping in mind the growth of Industrial Sector of J&K.
Federation requested Lt Governor, Sinha and MK Dwivedi, Commissioner/ Secretary, Industries & Commerce Department to intervene into the matter to ensure that JKIDFC should provide requisite funds for the up-gradation of existing Industrial Estates and development of New Industrial Estates in time bound manner.