Excelsior Correspondent
JAMMU, Sept 7: Federation of Industries Jammu (FoIJ) has urged upon Lieutenant Governor, Manoj Sinha to grant State Fiscal Incentives to the existing as well as new industrial units as per the memorandum submitted by the stake holders from time to time to the concerned authorities during the last one year as assured by the administration on priority to prioritize the aspirations of local entrepreneurs while putting in concrete efforts for making J&K the most investor friendly Union Territory.
In a handout FoIJ claimed that local working industrial units are badly hit after August 5, 2019 after the abrogation of Article 370 and now due to COVID-19 situation since March 25, 2020.
Hailing the efforts of K.K Sharma, Advisor to the Lt. Governor; Manoj Kumar Dwivedi, Commissioner/ Secretary Industries & Commerce Department and others to identify 6000 acres of land for industrial development in J&K for setting new industrial units, FoIJ said, it is need of the hours to save the existing industrial units of J&K which are working despite all odds since the last 30 years and surviving only on fiscal incentives by previous Governments.
In a handout FoIJ mentioned that on one side Government is going to spent crores of rupees for development of new industrial estates but on the other employment graph in Jammu province has declined in the industrial sector in the last three years with the employment of just 6462 employees in 523 units due to non-availability of State Fiscal Incentives for new units in post GST regime.
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