Extension period of GoI package should have been 10 yrs: CCI

Excelsior Correspondent
JAMMU, June 15: Complimenting the Government on extension of Central Industrial Package to Jammu  and Kashmir, the Chamber of Commerce and Industry Jammu has highlighted some issues and suggestions, which need to be look into.
In a joint statement, CCI president Y V  Sharma, and general secretary  Arun Gupta said that the extension period of the Central package should have been minimum for ten years from 14th June 2012.
“Interest subsidy has been restricted to new units only whereas existing units on substantial expansion have been left out. This was available in earlier package. This incentive needs to be made available to existing industry also,” they said.
Referring about the point that new industrial areas have been notified in the extended package, the CCI asked State Government  to do its homework to ensure the development of these estates in time bound manner so that full benefit could be availed.
Further, they added, State Government should direct Industries Department  to set its  house in order and put an efficient delivery system in place. Officers in the District Industries Centres have become obstacles rather than facilitators. SVO needs to keep a close watch on some of the employees who are running their own consultancy services, acting as touts and have become dictators in DICs. Best of incentives will not facilitate  investment unless good officers and efficient delivery system is put in place, the statement said.
We appeal to  Chief Minister to personally  take up with  Prime Minister regarding the extension of Income Tax Exemption and Full Central Excise refund during his ensuing visit to State, the statement added.