Industry in J&K all set to face closure: FoIJ

Excelsior Correspondent
JAMMU, May 12: Federation of Industries Jammu (FoIJ) has appealed the Lt Governor, GC Murmu to save industrial sector in J&K which has reached at the verge closure due to lock down over Covid-19.
While appreciating the sincere efforts of the UT Administration working under the able guidance of the Lt Governor and Chief Secretary resulting effective steps taken by the Administration to fight against the COVID-19, Lalit Mahajan, chairman of Federation of Industries Jammu invited the attention towards the plight of Industrial units of J & K working as per the permission granted by the Industries Department with 1/3 deployment of work force, depending on the sale of their products within the J&K.
Mahajan said due to lockdown sharp decline in the sales turnover since last 50 days has been witnessed. The Unit holders are not in a position to pay the salary/wages for the month of April 2020, Bank interest, Power dues and other Govt dues.
It is pertinent to mention here that keeping in mind all the facts in post COVID-19 situation, a Task Force has been constituted by Govt to provide the immediate relief to the Industrial sector, Tourism, Hotel Industry, Hospitality Sector etc with the timeline for the submission of recommendations by May 15, 2020 by the said committee but till date no relief is provided to the Industrial sector of J&K resulting uncertainty prevailed in the mind of the Unit holders. The Unit holders have no option but to close down their Units resulting mass scale retrenchment of the workforce and the major sufferer are the sons of the soil.
FoIJ requests the Lt Governor to grant a relief package to the Industrial sector of Jammu & Kashmir. It demanded to release funds for the payment of wages and salary of the workers and staff of the Units for the month of April, May 2020 or till the lockdown period, waive off demand charges/fixed charges and Electricity duty for April, May 2020 or till the lockdown period with the direction to defer the payment actual Power consumption Bills for the month of March and also waive off the Interest on the working Capital Limits/Term Loans up to 31-3-2021 by Banks with the enhancement of 25% Working Capital limits on the same collateral security/rescheduling the Term Loan Installment after 31-3-2021/Corpus Fund of 100 Crores for the Rehabilitation of Sick Industrial Units already declared as NPA.

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