Excelsior Correspondent
JAMMU, May 21: Federation of Industries Jammu (FoIJ) has appealed the Lt Governor, GC Murmu to provide financial package to the Micro & Small Scale sector in the Jammu and Kashmir.
In a meeting of the Federation held under the chairmanship of Lalit Mahajan, the members discussed the Rs 20 lakh crore stimulus package announced by Union Finance Minister to provide the relief to MSME sector of the country suffering due to COVID-19.
While appreciating the announcement of FM for providing Rs 3 lakh crore package to MSME sector, the members highlighted that package earmarked as a relief under the present Credit Guarantee Scheme (CGTMSE) of Govt of India only for the loans to be disbursed to the MSME Sector by public sector and private sector banks with the additional amount of the interest over and above the current rate of interest with the repayment schedule after 12 months or so and we term it as an additional liability on the unit holders of this sector already suffering very badly due complete lockdown.
FoIJ said Micro & Small Sector units of the Jammu & Kashmir are suffering badly after the adoption of GST by J&K Govt, abrogation of Article 370 since August 5, 2019 and now the COVID-19 resulting uncertainty prevailing in the mind of Micro & Small Scale unit holders being run by the sons of the soil as they feel neglected.
Mahajan said Federation of Industries Jammu, which is an umbrella of Industrial Associations of Gangyal, Bari Brahmana, Digiana and Birpur Associations since 2002, duly recognized by the previous Governments, as representatives of industries sector of Jammu, approached the State Govt/UT Administration for the grand of fiscal incentives to Micro & Small Sector of the J&K in post GST regime, after the abrogation of Art 370 but nothing has been done so far, whereas, some self- styled impersonators of some industrial associations running the show without holding the election of the Association since long trying to mislead the officials of the Departments related to the Industrial Sector.
FoIJ chairman demanded reimbursement of wages/salary for April, May and June 2020, waive off bank interest for these three months; waive off fixed/demand and electricity duty for April, May and June and deferment of purchases through GeM portal till March 31, 2022.
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