Lest industrial sector faces closure

Industries Department has granted permission to the industrial units in the UT to work with one third work force depending on the sale of products in Jammu and Kashmir in view of the corona virus pandemic. On the other hand, a steep fall in the sales turnover for the past more than 50 days has posed varied problems to this sector. In cumulative reckoning, imminent near closure of most of the industrial units is feared as per Federation of Industries, Jammu.
While appreciating certain measures taken by the UT administration under the Lieutenant Governor as also the Chief Secretary, the Federation has appealed them for saving the industrial units from imminent closure due to the fallout of the virus on the continuous basis. It is reported that on account of the money crunch, most of the units are not in a position to pay to the labour, clear electric dues, pay bank interest and repay loan instalments. Though a Committee was constituted to look into the problems of the industrial sector, tourism, hotel and hospitality sectors etc for submitting its recommendations, it has not done so within the timeline fixed for the same. It would be pertinent to expedite the matter so that the UT administration could address the problems of the industrial sector.


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